New Zealand's PPSA specialist

It is now clear that the "Covid 19" recession will be deeper and last longer than any of us could have imagined. We have got on top of the virus, but many of our trading partners are in chaos. We know that international tourism has taken a big hit, but when our trading partners slide further in to recession (depression) our exports will suffer and other sectors in our economy will feel the pain.

The one thing we do know is that there will be insolvencies and bad debts.

There is no "silver bullet" in times like this but you can limit the damage. You can use the PPSA to your advantage and put yourself in prime position when one of your customers goes bust. The benefits to your business include:

1. You may be able to get back goods you have sold to your customer to minimise a bad debt

2. If your customer has used your goods in the manufacturing process you may have security in the manufactured goods

3. If your goods have been sold, you may have security in the proceeds or book debt arising

4. If you rent, lease or loan equipment to your customers you will be able to get your assets back rather than lose them to a receiver

5. You may have a defence against a preferential payment claim from a liquidator

Contact us for an informal discussion to see how you can use PPSA to protect your business. It is too late if you wait until one of your customers goes bust, you need to act now.

When was the last time you searched the PPSR to see who has taken security over the assets of your company? Do you know how to interpret the results? Do you know what to do about it if you do not like what you see?

It is not unusual to have a number of registrations against your company. The actual number may surprise you and although most of the registrations may not cause concern there can be some that you do need to worry about.

How would you feel if a trade supplier could appoint a receiver to your company and wrest control from your own hands? Do you know if any of your suppliers have the power to do this?

You may have suppliers who you no longer deal with who have not removed registrations. Do you know how to make them discharge the registration?

Some may claim broader security than they actually have.

This can have a big impact on your company, particularly if you are raising more finance for working capital or expansion - or worse still - if you are trying to sell your business.

It takes time to sort all of this out, so there is no substitute for some "good housekeeping" to keep your profile clean on the PPSR.

Contact us to find out how we can help

If you only have a few registrations to process on to the PPSR there is a publicly available government website that will give you access to the register. Once you go beyond that, you really need a technology based solution and that is where we come in. We work in conjunction with Equifax who have a "best in breed" solution - ESIS or Electronic Securities Information System.

The system was completely rewritten and updated in late 2019 - based on the 20 years of registration experience built up by EDX in New Zealand and Australia.

Again, we pride ourselves in customising a solution to best meet your needs - we do not believe in "one size fits all". This means we can:

• Process a single registration on your behalf or process bulk registration to get you up and running

• Use Equifax data capability to cleanse your ledger and get accurate customer data for registration

• Provide a superb way to manage your registrations on an ongoing basis

• Automate your ongoing registrations and renewals where required

• Or for those businesses with limited resources and/or a few registrations we can offer a fully outsourced managed service to take the burden off your organisation

Contact us to for a discussion to see how our registration capability can benefit your business.