General Security Agreement And Ppsa

[20] The development of a guarantee interest by taking control of assets that are otherwise “current assets” fulfills the policy of the law. See Knauf Plasterboard Pty Ltd v Plasterboard West Pty Ltd (En liquidation) [Receivers and Managers Appointed] [2017] FCA 866 at [172], where the Court finds that the methods of perfecting a security interest according to ppSA “are all oriented towards the objective of a secure party that publicly discloses its security interest”. A secured party that is not made public by registration must perfect through possession or control that deprives the assets of the licensor`s ownership or control and therefore will not induce the public to believe that those assets are not subject to a security interest. Real estate. An insured party may consider the debtor`s “ownership” to cover its land ownership.

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