On 27 June 2013, Brereton J of the Supreme Court of NSW gave judgement in the matter of Maiden Civil (P&E) Pty Ltd; Richard Albarran and Blair Alexander Pleash as receivers and managers of Maiden Civil (P&E) Pty Ltd & Ors v Queensland Excavation Services Pty Ltd & Ors  NSWSC 852, a case that dealt with priorities under the Personal Properties Securities Act 2009 (PPSA). This decision highlights the dangers of not perfecting a security interest and confirms that Australian courts will look to decisions of the Canadian and New Zealand courts for guidance when interpreting the PPSA.
THE FACTS -
In May and August 2010, the first defendant, Queensland Excavation Services (QES), purchased caterpillar excavators (Excavators). Concurrently, QES leased the Excavators to Maiden Civil (P&E) Pty Ltd (Maiden) for civil construction work in the Northern Territory (Leases). The Leases were not registered by QES under the PPSA or by any other means.
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