Tag Archives: security interest

Stop thief! Ownership rights and the Personal Property Securities Act

The decision in Chelliah v NSW Police [2018] NSWSC 557 serves as a reminder that the Personal Property Securities Act 2009 (Cth) (PPSA) is not a panacea for any ownership issues arising. In this case, the purchaser of a vintage Lamborghini purported to register a security interest on the Personal Property Securities Register (PPSR) to assert title in the vehicle and sought to rely on the taking free provisions to claim a superior interest to that of the true owner who acquired title to the vehicle under a will. The PPSA did not assist, because the true owner did not have a ‘security interest’ for the purposes of the PPSA and so was not required to register any interest. The purchaser’s claim did not defeat that of an outright owner.

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