Great summation here by Katherine Payne of Hall & Wlcox on the two recent cases which provide for some insights into the transitional provisions of the PPSA.
This area of the PPSA is where the majority of the fights with ROT suppliers stem from and is one of the most hotly argued areas in my view. There are two clear sides to this coin and each are pushed with vigour depending upon the client’s position. Hence why these cases are often settled as there is, as yet, no clear answer.
These cases provide some insight which, on the face of it, may give greater weight to the claims of the ROT creditor than the practitioner. As always its the often bespoke facts that can swing a decision one way or another.
Adrian Hunter 