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25.01.2022 Spreading the good word (the PPSA) to the bush. It was a real pleasure hosting a PPSA workshop for the WIFE organisation in Cranbrook. As Women In Farming Enterprises they manage multi million dollar businesses and need to understand how the PPSA can help protect them from the insolvency of their customers.

24.01.2022 The PPSA for Dummies Buying or selling a business or refinancing? Don’t stick your head in the sand. Simon Read, founder of PPSAdvisory, is helping unravel the mystery of the PPSA and why it’s so critical you appreciate its application to your or your client’s business. ... It’s a big topic so we’re breaking it down into bite sized pieces, identifying the five principle ways in which the PPSA is likely to have application to your business: Business loans; Selling goods/materials on credit to your customers Leasing or renting equipment to customers Asset protection structures Buying/selling businesses So, if the PPSA is all about security interests in equipment, assets etc, what part does it have to play in buying/selling a business or refinancing one? A BIG part. Just think, the PPS register is an online notice board of other people’s security in property, assets, equipment etc. If you’re thinking of buying a car from the guy you’ve just met in the pub, wouldn’t it be smart to search the vehicle (by its VIN) on the PPS register to see whether anyone is already claiming security over the vehicle (like the car’s financier)? If you’re thinking of buying a trading business, a search of the PPS register must be a basic part of your due diligence. After all, the PPS register is telling you of other parties’ potential security over the very equipment, goods, assets you’re about to buy. If you’re selling a business, it’s critical to review the PPS registrations performed against you. You’ll need to explain them to the purchaser and arrange for the security to be released on settlement. If you plan on providing finance you’ll want to make sure of your security position. The PPS register will let you know exactly where you’ll stand in terms of priority with other secured parties. If you’re planning on refinancing your equipment, you’ll have to be able to explain any PPS registrations registered against it. Please, if you’re intending any of the above activities, speak with one of the PPSAdvisory team to determine how we may be able to help - Visit our website if you need assistance www.ppsadvisory.com.au PPSAdvisory are happy to lend a hand. Having conducted buy/sell and refinance due diligence in more than $400 million of transactions, we understand the issues. Please, please, please contact us at the beginning of the transaction. The PPSA is the number one contributor to settlement delay. The PPSA is often a major due diligence issue and can take significant time to resolve. Please remember this is not legal advice, we are not lawyers and the information is provided for general guidance only. Readers should obtain confirming legal advice before acting.

24.01.2022 We’re hiring! We’re looking for an experienced insolvency professional to join our team in either Perth or Sydney. https://www.seek.com.au/job/41314852

23.01.2022 The PPSA for Dummies Asset Protection Structures may not be achieving their purpose. Simon Read, founder of PPSAdvisory, is helping unravel the mystery of the PPSA and why it’s so critical you appreciate its application to your or your client’s business. It’s a big topic so we’re breaking it down into bite sized pieces, identifying the five principle ways in which the PPSA is likely to have application to your business:... Business loans; Selling goods/materials on credit to your customers Leasing or renting equipment to customers Asset protection structures Buying/selling businesses Remember, the PPSA is all about security; if you have security you better register it on the PPS Register if you ever want to rely on it. A very common means of protecting your assets/equipment is the use of an Asset Holding company and a related Trading company. The PPSA now puts at risk business structures supposed to protect assets. Asset Co (the owner of the equipment) simply enters a long term lease of the equipment for its use by the related Trading entity. The use of these structures is widespread and for good reason, they are a very sound means of protecting your equipment from the insolvency of your business. You hope it never happens, but you prepare for it, just in case. The idea is to have Trading Co incur all the external trading liabilities of the business and in the event of insolvency, Asset Co can recover its equipment because it is the owner. But, as we learnt in the last post, it’s not about ownership, it’s all about possession. The lease between Asset Co and Trading Co will almost certainly be a PPS Lease and accordingly, Asset Co should be complying with the PPSA. If it’s not (which is usually the case), the equipment may well be retained by the insolvent Trading Co, completely undermining the whole purpose of creating this structure in the first place. Once again, the answer is simple, comply with the PPSA. The agreement between the parties must make it clear Asset Co is the owner of the equipment, Trading Co grants Asset Co security over the equipment and the security is to be registered on the PPS Register. Because Asset Co has security over the equipment, it must register the security on the PPS register if it intends to rely on it. Please, if you currently use such an asset protection structure, speak with your accountant or contact one of the PPSAdvisory team to determine the next steps www.ppsadvisory.com.au Please remember this is not legal advice, we are not lawyers and the information is provided for general guidance only. Readers should obtain confirming legal advice before acting.

22.01.2022 The PPSA for Dummies Business Loans. Ignore the PPSA, what could possibly go wrong? Simon Read, founder of PPSAdvisory, is helping unravel the mystery of the PPSA, detailing why it’s so critical you appreciate its application for your or your client’s business. ...Continue reading

21.01.2022 Happy Birthday PPSAdvisory, Happy Birthday to us. Cheers!

18.01.2022 The PPSA for Dummies Selling anything on credit Simon Read, founder of PPSAdvisory, is helping unravel the mystery of the PPSA and why it’s so critical you appreciate its application to your or your client’s business. It’s a big topic so we’re breaking it down into bite sized pieces, identifying the five principle ways in which the PPSA is likely to have application to your business:...Continue reading

17.01.2022 Interested in a PPS workshop? Contact us now or visit www.ppsadvisory.com.au

14.01.2022 The PPSA for Dummies Hiring, renting, leasing or bailing equipment? Don’t let the liquidator walk away with your property. Simon Read, founder of PPSAdvisory, is helping unravel the mystery of the PPSA and why it’s so critical you appreciate its application to your or your client’s business. It’s a big topic so we’re breaking it down into bite sized pieces, identifying the five principle ways in which the PPSA is likely to have application to your business:...Continue reading

13.01.2022 https://www.linkedin.com//urn:li:activity:6491504773190254

08.01.2022 If you're interested for a free PPSA workshop, let us know or message me Simon Andrew Read. Hope to see you soon!

06.01.2022 The PPSA for Dummies - Introduction Please excuse the title but you’ll be familiar with the series of Dummy books created to simplify complex concepts. And if you know anything about the Personal Property Securities Act (PPSA), you’ll certainly know it’s complex. Simon Read, founder of PPSAdvisory, is going to help unravel the mystery (and reduce the headache) of the PPSA and detail why it’s so critical you appreciate its application for your or your client’s business. ... It’s a big topic so we’re breaking it down into bite sized pieces, identifying in future posts the five principle ways in which the PPSA is likely to have application to Australian business: Business loans; Selling goods/materials on credit terms to customers Leasing or renting equipment to customers Asset protection structures Buying/selling businesses One of the chief purposes of the PPSA is to protect your property from the insolvency of your customers. PPSAdvisory assists by ensuring your ongoing compliance with the PPSA. We’ve all experienced (and will continue to experience) the insolvency of customers and we resign ourselves to getting little if anything back on the money we’re owed. Often whilst the secured creditor’s (usually the Banks) recover their debts. Well, the PPSA changes all of this. Compliance with the PPSA promotes suppliers to secured creditor status for the goods/equipment they’ve supplied. Your security ranks ahead of the traditional secured creditors, you can now outrank the Banks! The cost of compliance is very reasonable (you’ll likely spend more on coffee each year). Usually, only one registration over your customer is required, attracting a Government charge of $6. This registration will cover every transaction you have with your customer for the next 7 years (about 85c a year for each customer). So, if it helps protect you from the insolvency of a customer and costs so little, why aren’t you complying with the PPSA? Most likely because it hasn’t been explained clearly enough to demonstrate how it impacts your specific business. If you have business loans (in fact any loans at all), sell goods on credit, lease or rent equipment to customers, use an asset protection structure or are thinking of buying or selling a business, the PPSA provides significant protection. Stay tuned for our future posts in which these topics will be discussed. If you can’t wait for the next posts please contact us directly www.ppsadvisory.com.au Remember, we’re not lawyers, this is not legal advice and you should obtain confirming legal advice before acting.