VIC goods used for security on a loan to a tenant taken by the tenants landlord

Discussion in 'Other/General Law Forum' started by Sarah_Jane_Melb, 17 July 2019.

  1. Sarah_Jane_Melb

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    I had an agreement with a company new company that I would pay for the fit out of their showroom. The loan amount was for $170,000 and was secured against the assets purchased With the funds for the fit out. This ensured title of the goods stayed with me and would ben transferred to the company once the loan was repaid.

    The business didn't work out and the landlord of the building took possession of the building. I contacted the landlord as I was trying to secure the retrieval of my property and made not very clear that these were not property of the company and until the loan was repaid the property title remains with myself.
    The landlord firstly agreed to return the property but after a year of chasing him he has now advised the property has been disposed of !

    He claimed that thew company owed him money but it was only $16,000 - But regardless the company owed him not myself. how do I go about suing him for the value of my property he obtained unlawfully and disposed of
     
  2. Rob Legat - SBPL

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    First step is to make sure what rights you have against the landlord. When you say "secured", do you mean that you had a registered Personal Property Security Register interest over the assets/company which properly described the security (either in details, or in an 'all assets' manner)?

    If yes, and that interest pre-dates any interest the landlord had registered in the goods then you've probably got decent grounds to succeed in an action against them. I suggest you find a litigator in your local area who is familiar with the way the PPSR works - it can be a little technical. I don't suggest that this is a DIY type claim to make.
     
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  3. Rod

    Rod Lawyer
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    Definitely not DIY.

    Suggest you give me a call and I'll talk with our insolvency/debt recovery lawyers to see how we can help. Time is important here and better to get real advice sooner rather than later in case the landlord takes actions that make it harder to recover 'your goods'.

    See my signature for contact details.
     
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