Arrangements with third-party creditors: No Interest Letters vs PPSA Estoppel Letters

8 minute read
12 January 2023

Speaker:

In some cases, you may require a secured party to provide you with either a PPSA estoppel letter or a no interest letter, depending upon the personal property assets you are intending to take security over.

In this video we discuss:

  • Dealing with competing claims
  • General Collateral Descriptions (GCDs)
  • PPSA estoppel letter vs. no interest letter
  • Ontario's "Check the Box" system

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How we can help

If you have any specific questions about the points discussed or it's specific application, please reach out to our Banking & Finance Group or Richard Dusome.

About the series

Lending rarely involves one bank providing 100 per cent of the financing. In many situations, there are numerous third-party creditors involved in a given transition. With so many stakeholders in play, bankers might have no idea how to legally protect their interest. This series will delve into the "why" and "how" of preparing priority arrangements, all in a language bankers can understand.


NOT LEGAL ADVICE. Information made available on this website in any form is for information purposes only. It is not, and should not be taken as, legal advice. You should not rely on, or take or fail to take any action based upon this information. Never disregard professional legal advice or delay in seeking legal advice because of something you have read on this website. Gowling WLG professionals will be pleased to discuss resolutions to specific legal concerns you may have.