Credit Revolution: A Practical Guide to Surviving the Personal Property Securities Act

Author: Peter Hattaway and Alan Liddell

Price: $68.75 delivered inc. GST

A LETTER FROM PETER HATTAWAY

Dear Creditors,

The Personal Property Securities Act came into force on May 1st, 2002 but very few business people understand yet how much it will change New Zealand business.

Let's look at an example. A retention of title clause says, essentially, "these goods are ours until they are paid for". Imagine you sell electricity. You've never had an ROT clause over the power you supply because it can never be taken back. Under the PPSA, you'll find that an ROT will allow you to seize the things made using your electricity!

If you have a retention of title ("Romalpa" or "ROT") clause over goods you supply, you need this book. If you think you can ignore the Act and continue unchanged, think again. The Act changes everything. You do so at your peril. If you do nothing, you will lose out.

The book that lawyer Alan Liddell and I have written will become, we believe, essential reading for anyone associated with the credit process in New Zealand. It gives easy-to-understand, practical examples of hundreds and hundreds of situations arising from the new Act. (Issues such as: what happens when a car with a registered security over it gets a personalised plate?) That's why you need this book.

How can you use the Act when someone says, "I'll pay you when my customer pays me"?
How do you describe your goods when you register?
What happens if goods are attached to land?
What are the practical benefits builders' supply companies can get out of registering?
How does the registration help creditors escape voidable preference problems?
How does it affect securities over crops? What about securities over land that has a crop on it?
What happens when your debtor takes their car - your security - to Australia?
What happens when, in breach of his contract, your debtor sells the car? Can you take it back? Can you grab the money that they were paid?
How does a business cope with re-registering under the PPSA when it has 10,000 accounts against individuals but only 2000 dates of birth and 1000 middle names?
What clauses do you need in a security agreement?
How does the PPSA change the use of distress warrants?
What happens if you don't register?
How does the PPSA affect factoring?
What can the Canadian PPSA cases teach us?
And much, much more

This publication is vital reading for businesses. Don't delay. Order now!

Yours faithfully

PETER HATTAWAY