Becoming a Secured Creditor
20 October 2020
Start Time: 12:00pm to 1:00pm
- Location: Dunedin
- Venue: Otago Chamber of Commerce, Level 3, 442 Moray Place
When companies go into Liquidation or Receivership secured creditors have a much better chance of getting paid than unsecured creditors.
Secured creditors are those suppliers who have registered an interest in goods supplied, on the Personal Property Security Register, and who can also produce for the Liquidator or Receiver, a security agreement as proof of the clients knowledge of the registration.
The old and often used retention of title clause is only valid if no one has registered an interest over the assets of the company, which is very unlikely. You will come away from the session with a selection of security agreements, a Secured Party Group and the know how to complete a registration.