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The lessons to be drawn from the Crafar receivership in relation to the Personal Properties Securities Act (PPSA) have now been distilled by the Court of Appeal, which has largely confirmed the High Court’s reasoning
Receivers cannot escape personal liability on contracts they cause the company to enter into simply because all of the company’s assets have been paid out
The issue of whether all bailments of more than one year qualify as security interests under the Personal Property Securities Act (PPSA) has been clarified by a Court of Appeal decision
