Hang on to the gems in your life! Move on from those who would bind you in chains.
Why you should register your assets on the PPSR
A decision by US company, APR Energy, not to register four gas turbines leased to Forge Group on the Personal Properties Security Register (PPSR) could potentially cost them $50 million.
Mining services firm Forge Group was placed into receivership in February 2014. At that time they were leasing four gas turbines from APR Energy. Under the laws governing external administrations, all assets not registered under the Personal Properties Security Act (PPSA) can vest with the lessee – in this case, Forge Group.
As reported by The Age, the receivers of Forge Group are taking this matter to the Supreme Court of New South Wales in an attempt to gain control of the turbines from APR Energy. If successful, $50 million worth of assets could be made available to the creditors of Forge Group, in what will be the largest case under the PPSA since its inception in 2012.
Given the relatively insignificant cost of only $16 to register assets under the PPSA (excluding any legal fees if required in the transaction), this oversight could be a major and costly error for APR Energy, and this matter again highlights the importance of correctly registering assets on the PPSR.
If you provide finance, supply, lease, hire or loan assets to third parties, we strongly recommend you obtain appropriate advice and register your ‘security’ interest in the assets to protect your position. Failing to properly register may result in the loss of your assets in the event of insolvency.
A New Crime Format
There’s a new form of crime on the block. “Sliders” who, from the far side of your vehicle, crouch down and open the opposite door and steal your purse from your car while you are refuelling. Ladies, keep it on you or locked up!
https://www.youtube.com/watch?v=iRSkmIY8H1E
Call It Play
Do What Lights You Up
The Two Most Important SEO Tactics
If you have a business… …important reading.
http://www.sitepronews.com/2014/08/08/seos-two-important-tactics/
Be The Best You You Can Be
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The Two Most Important SEO Tactics
To those who have their own business… …a great article.
http://www.sitepronews.com/2014/08/08/seos-two-important-tactics/