Federal Court of Australia
Federal Court of Australia
Commonwealth Bank of Australia v HM Aircraft Holdings Pty Ltd [2021] FCA 447 File number: VID 143 of 2021
Judgment of: BEACH J
Date of judgment: 30 April 2021
Catchwords: CORPORATIONS – securities – financing over aircraft – general security interest – equipment charges – purchase money security interests – defects in registration of securities – defective registration of financing statements – inadequate description of collateral – registration in incorrect collateral class – ineffective securities by operation of s 165(a) of the Personal Property Securities Act 2009 (Cth) – lack of super priority under s 63 of the PPSA – extension of time under s 293(1)(a) for lodging financial statements – modification to registration times for PPSA security interests under s 588FM of the Corporations Act 2001 (Cth) – orders made
Legislation: Corporations Act 2001 (Cth) ss 588FL, 588FM Personal Property Securities Act 2009 (Cth) ss 14, 55, 62, 63, 153, 164, 165, 267, 293 Personal Property Securities Regulations 2010 (Cth) reg 1.6, Sch 1, Pt 2, reg 2.2
Cases cited: In the matter of Eticore SD Pty Ltd [2021] NSWSC 110 Northern Managed Finance Pty Ltd v 4 in 1 Wyoming Pty Ltd (2017) 120 ASCR 167 Re Accolade Wines Australia Limited [2016] NSWSC 1023 Re Appleyard Capital Pty Ltd; 123 Sweden AB v Appleyard Capital Pty Ltd (2014) 101 ACSR 629 Re Cardinia Nominees Pty Ltd [2013] NSWSC 32 Toll Energy and Marine Logistics Pty Ltd v Conlon Murphy Pty Ltd (2019) 137 ACSR 328
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