Section 588FL and security interests granted after the "critical time": what insolvency practitioners should do now

Jonathon McRostie, Jackson Macaulay and Joseph McDonald of Clayton Utz take the position that, until appellate authority resolves the split between OneSteel and Re Antqip on whether post-critical time security interests automatically vest under section 588FL, insolvency practitioners should take the cautious path by promptly registering PPSR interests, seeking section 588FM orders and documenting decisions carefully.

Read more.