Terms of trade and how registering your security interest can assist your business
The Personal Property Securities Act 1999 (“the Act”) has become a significant part of New Zealand commercial law. The Act created a publicly available record of security interests over ‘personal property’ and has become a tool by which businesses can protect their interests in the event of a debtor becoming insolvent. Personal property is all types of property except land. For example, stock in trade, livestock, crops and vehicles; along with intangible property such as hire purchase agreements, company...