From colemangreig.com.au: Opportunistic claims under the Personal Property Securities Act (PPSA) occurred frequently in 2024, highlighting the necessity for claimants to have a valid security agreement.

Recent court cases, including Lifestyle Property Partners Pty Ltd v O’Reilly and Re Qenos Pty Ltd, illustrate that failure to register a security interest on the Personal Property Securities Register can put claimants at risk of losing their claims.

In these cases, courts ruled that without proper agreements or registrations, the claimants could not establish a security interest in the disputed property.