Visa Platinum Share

In a latest software before the Supreme Court of Victoria in Re Wasabi Vitality Restricted, the court held that a PPSR registration was not seriously misleading simply because it solely listed one secured social gathering when, the truth is, the safety interest was held for the benefit of a number of secured events.

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The lone lender made an utility below section 588FM of the Companies Act 2001 (Cth) for orders extending the time to make the second registration, it not being registered inside 20 enterprise days of the original common safety agreement as required by s588FL. The rest of the syndicate sought to make the most of the second registration. Nonetheless, the query arose whether or not this might make the second registration critically deceptive as a result of it listed only one secured party.

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