Richard C. Dusome
Counsel
Vidéos
Publié12 janvier 2023
Arrangements with third-party creditors: Conducting and reviewing PPSA searches
The PPSA is a central government electronic registry system where all creditors claiming a security interest in the personal property assets of a debtor must file notice of their claim.
7
minutes de lecture
My name is Stephanie Harvey and I am a corporate/commercial lending lawyer with Gowling WLG. You are watching video one of our 'Types of Security' video series. As the name suggests, each video in this series will discuss different security that a lender should consider when putting its security package together.
The PPSA ("Personal Property Security Act") is a central government electronic registry system where all creditors claiming a security interest in the personal property assets of a debtor must file notice of their claim. This notice is called a financing statement.
In this video we discuss:
- The PPSA registration system
- Required contents of a financing statement
- Dealing with identified third parties
- Key points about PPSA searches
Watch more videos | Go to our lending resource hub
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.
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