QLD Pursue Unpaid Invoices of Client Under Commercial Law?

[Momentum]

I'm a Pty Ltd company and a client has advised he will not be paying the final account on a project as he has no money. I invoiced the client directly re to his personal name. A Qld bank also financed him on the project and paid me direct for 3/4 of the project and the bank tells me that they have a charge over the project / fit out, not the tenancy.

I'm owed $98k and have delt with the landlord of the tenancy to see if we can lease the space to someone else as they have cancelled his lease, etc. Not sure if I can register a charge also under commercial law. I believe engaging a firm to chase the invoice is pointless due to the option of getting blood out of a stone.

Any thoughts would great. Thanks

 

[Rod]

It is easy to register a PPSR so you should do it even if your terms of trade have a retention of ownership clause.

For $98K, bankruptcy might be worth it and a payment plan.

 

[Momentum]

Thanks Rod.

After 7 years of business, this is a first for me. Could you help what a PPSR is and where it is lodged?

Also a twist is that the client is from NZ and has no equity in Aus as this is why the bank put a charge over the fit out and not an asset I believe.

Thanks again Rod

 

[Rod]

All the information you need is here.

You can get a judgement in Australia but I know nothing about how to, or even if you can, enforce it in NZ.