Australia: Securities

Capital raising is often treated as a discrete event – a round closes, the money lands, and the business moves on. However, for some start-ups and scale-ups, raising capital is a long-term lifecycle decision: each raise shapes the next one, and early decisions around structure, disclosure settings and investor rights can compound over time.

Perfecting a security interest under the Personal Property Securities Act 2009 (Cth) (PPSA) is critical step for a secured party to ensure its security interest is not just enforceable against the grantor of the interest, but also against third parties. Perfection can occur by one of three ways: possession, control or registration on the PPS Register.

When setting up a charity, one of the most important early decisions is selecting the appropriate legal structure. This choice affects how the organisation is governed, its legal responsibilities, and its ability to grow and access funding. Two of the most common options are Incorporated Association (IA) and public Company Limited by Guarantee (CLG). However, each structure offers advantages and limitations depending on the charity’s size, scope, funding sources, and regulatory obligations.

ASIC’s Transaction Reporting Rules (ASIC Rules) do not impose any obligation for matching or pairing trade reports between counterparties. Neither the ASIC Rules nor Regulatory Guide 251 (RG 251), require that the data...

The recent Federal Court decision in Southernwood v Brambles Limited (No 3) [2026] FCA 418 reflects an increasingly forensic judicial and exacting judicial approach to the review of boardroom forecasting and disclosure decisions.

A Queensland Supreme Court ruling reveals a critical gap in PPSA security arrangements: even first-ranking security over 'after-acquired property' may not capture future property or expectancies. The decision in Kirk v Moreton Resources Limited demonstrates how relying exclusively on statutory definitions can leave secured creditors vulnerable when competing against assignments of future benefits, particularly in insolvency scenarios.

Overview of the pathways for resolving priority disputes under the PPS Act and their key components and implications.

The increasing trend of receiverships and the changing landscape of lenders in the market.

On 25 September 2024, the Federal Court ordered a large superannuation trustee (Trustee) to pay the highest penalty imposed for greenwashing conduct yet – AU$12.9 million.