Perfect Your PPSA Skills

PPSA Foundations – This module offers a series of succinct ‘virtual classes’ (approx. 1hr each, to be recorded in 2025), covering core PPSA concepts and principles, and it will be available to view on demand. It is strongly recommended that you complete Module One before attending Module Two as content will not be repeated.

Overview of the Personal Property Security Act in Ontario

• What is covered by the PPSA?
• Identifying the specific factual and legal issues
• Recognizing the clients’ specific circumstances
• Communicating with the client – what is required?
• What is meant by “security interest” and how is it created?
• The “what”, “when” and “how” of attachment
• “Perfection” of a security interest and why it is important

Speaker TBC

Preparation of Financing Statements

Learn the steps to take and the content to include when preparing financing statements and in the actual drafting of a sample document:

• Debtor/secured party names, addresses, registration period
• Financing statements and financing change statements
• Collateral classification and description
• Timing of registrations
• Mandatory and optional amendments
• Obligations regarding client confidentiality
• Ethical obligations relating to PPSA filings and registration
• Differences in other common-law provinces

Speakers TBC

PPSA Acknowledgements and Searches

• How to examine a PPSA response certificate
• Things to consider when reviewing PPSA search results
• Dealing with potentially competing prior registrations

Speakers TBC

Overview of the Ontario Securities Transfer Act, 2006

Overview of some of the key concepts and impacts involved when taking security interest over personal property, including:

• The mechanics of the security process and important highlights
• “Direct” vs. “indirect” holding systems
• Essential security terms such as “investment property” and “control”
• Review of important security considerations and impacts

Speaker TBC

PPSA-Related Professionalism Risks, Claims and Issues for Legal Professionals

• Ignorance is not bliss – professionalism claims and stats
• What you don’t know can hurt you – summary of common higher risk and claims areas
• Risk management materials and resources
• Distinctions for lawyers, paralegals and law clerks

Speakers TBC

Working Through Common PPSA Elements – Building on content covered in Program Module One: PPSA Foundations, this module explores more intricate PPSA topics and applications, and you will explore some common PPSA problems and related issues. It is strongly recommended that you complete Module One before attending Module Two as content will not be repeated.

Registration for In-Person Attendance (8:30 a.m. ET)

Chairs’ Welcome and Overview (9:00 a.m. ET)

Drafting Solid PPSA Opinions (9:10 a.m. ET)

• Essential opinion components and the purpose of each one: enforceability, creation of a valid security interest perfection and other elements
• Working through the draft opinion and incorporating key PPSA elements:
  • Dealing with lien searches and registrations
  • Conflict of laws issues
  • Perfection by control
  • Ethics and legal opinions
• Drafting insights and tips
  • Formulations to avoid
  • Crafting appropriate qualifications
  • Current opinion issues and strategies for avoiding them

Dan Dedic, Goodmans LLP

Break (10:20 a.m. ET)

Navigating PPSA Amendments, Renewals, Discharges (10:40 a.m. ET)

• Overview of each element, including filing requirements
• Higher risk areas and common missteps, along with tips for dealing with them
• Ensure proper authorization for payout letters
• Estoppel letter and no interest letters
• Corporate reorganization – maintain perfection, consent to transfer assets, change of control and the PPSA effects
• Practice management and competency issues

Speakers TBC

Practical Considerations When Taking Security Interest over Personal Property (11:30 a.m. ET)

• Overview of the process and some important practical considerations
• Certificated and uncertificated securities
• Perfection, priority and conflict of laws rules

Speaker TBC

Lunch Break (12:00 p.m. ET)

PPSA Priorities and Security: Tips, Traps and Repairs (1:00 p.m. ET)

Before the “first come, first served” priority rules can apply, one must ensure that the interest is not captured by one of the many exceptions set out in the PPSA, including:

• Purchase Money Security Interests (PMSIs)
• Fixtures and fixture financing considerations
• Perfection by control (investment property)
• Intellectual property
• Security interests registered under the Bank Act

Daniel Cipollone, Cassels Brock & Blackwell LLP

Case Study: Exploration of Common PPSA Problems (1:50 p.m. ET)

Session includes a 20 minute break at 2:30 p.m. ET

You will review brief fact scenarios and, working in small work groups, you will identify a number of PPSA and related issues. Everyone will then discuss findings as a large group, in an interactive forum. You will learn how to:

• Identify the key information required for PPSA registrations from fact scenarios
• Identify other issues that may arise from fact scenarios which are technically outside of the PPSA
• Understand your professional and ethical obligations

Meaghan Obee Tower, Stikeman Elliott LLP

PPSA and Bankruptcy: Lessons Learned from Insolvency Court (3:20 p.m. ET)

• What practitioners wish they knew before things went sideways – cautionary tales from an insolvency/bankruptcy litigator
• Security review considerations
• Steps to take when you need to enforce security
• Tips and takeaways

Jeffrey Levine, McMillan LLP
Alexander (Lex) Overton, McMillan LLP

PPSA Essentials: Real Property vs. Personal Property Security (4:00 p.m. ET)

• Overview and notable similarities and distinctions
• Real property searches – issues around amendments and discharges
• Title insurance and title opinion
• Practice management and competency issues, and understanding the applicable legislation
• Identifying the risks and keeping the client informed

Benjamin Leith, Cassels Brock & Blackwell LLP

Module Two Ends; Program Concludes (4:30 p.m. ET)

*This Workshop will not be recorded.*

9:00 a.m.
Applying Key PPSA Provisions in Everyday Client Scenarios: Skills-Based Workshop

Session includes a 20 minute break at ~10:30 a.m.

This unique, skills-based workshop will provide you with an opportunity to develop and apply the practical skills you have learned throughout the program – with the benefit of real-time support and guidance by your expert workshop instructors. Enhance your ability to make the right decisions, to best protect and serve your client’s security interests and to avoid a host of costly pitfalls.

Structured in a collegial seminar setting, this workshop will also explore real-world and thought-provoking situations providing you with hands-on experience working-through various ethical and professional considerations.

You will emerge from this hands-on workshop with greater understanding of the Ontario Personal Property Security Act, which you can put to immediate use in your organization or practice.

Speakers TBC

12:00 p.m.
Workshop Concludes