JWS Consulting is a division of Johnson Winter & Slattery providing commercial consulting services.
We are engaged by major Australian and international corporations as legal counsel on their business activities, disputes and most challenging matters.
Established in 1993 by Tony Johnson, Nigel Winter and Peter Slattery as a boutique corporate firm, JWS grew rapidly to become a leading independent Australian firm.
The quality of our legal advice and service to clients is recognised through independent industry recognition and direct client feedback.
Learn more about breaking news at Johnson Winter & Slattery, including major transaction announcements, practitioner appointments and team expansions.
JWS supports a number of community initiatives and not for profit organisations across Australia through pro bono legal work and charitable donations.
We are proud to sponsor a number of community initiatives.
The New South Wales Supreme Court has found that a secured party cannot rely on its own mistake when registering on the Personal Property Securities Register (PPSR) to claim that the defective registration “temporarily perfects” its security interest.
In HP Financial Services (Australia) Pty Ltd v Production Printing (Aust) Pty Ltd (in liq)  NSWSC 505 a secured party incorrectly registered against a grantor’s ABN rather than its ACN as required by section 153(1) and the Personal Property Securities Regulations. The grantor was subsequently placed in voluntary administration. The secured party argued that its security interest (being its interest as lessor under a PPS lease of $4 million worth of printing equipment) was temporarily perfected by its defective registration prior to, and on, the day on which the administrators were appointed by virtue of section 166 of the Personal Property Securities Act 2009 (Cth) (PPSA).
In summary, section 166 of the PPSA provides as follows:
then despite sections 164 and 165, the defect does not make the registration ineffective for the period starting at the defect time and ending at the earliest of the following times:
but the registration becomes ineffective under sections 164 and 165 because of the defect immediately after the earliest of those times, unless, at or before that time, the registration is amended to correct the defect.
The secured party’s argument was rejected by the court. The court observed that:
The judgment in the Production Printing case follows on from the recent decision in Re OneSteel Manufacturing Pty Ltd (administrators appointed)1 which found that:
Many insolvency practitioners have been faced with the rather tenuous argument that section 166 of the PPSA saves a secured creditor from the effects of its own defective registration. Production Printing is a common sense interpretation of the relevant provisions which confirms that this argument is indeed misconceived.
1 NSWSC 21
2The grantor in the OneSteel case had an ACN and it was not the trustee of a trust or the responsible entity of a registered scheme; Part 1 of Schedule 1 to the Personal Property Securities Regulations.
The New South Wales Court of Appeal in a close 3-2 decision has decided that the time limit in which to sue an insurer for a failure to indemnify for property damage starts when the property damage...
Johnson Winter & Slattery (JWS) is advising GFG Alliance on the addition of A$650 million in credit lines for working capital management and planned growth opportunities.
Our 2019 Half Year Dispute Resolution update details our significant case developments and wins, including our listing as a Band 1 Practice for Dispute Resolution in the Asia Pacific Legal 500 for...