Your clients are relying on you to protect their security interests.
Ontario’s Personal Property Security Act (PPSA) is a highly technical piece of legislation, demanding a solid grasp of its rules and requirements. Failure to comply can have serious and costly consequences for your clients. This essential PPSA event is designed to help you get up to speed in one day.
Focused on the practical, OsgoodePD’s PPSA skills program is designed to give you a thorough understanding of what you need to know to properly navigate the complexities of the PPSA to protect your client’s security interests and maximize benefits. Highly experienced practitioners will take you through the PPSA and common pitfalls, using practical examples and “hands-on” exercises to help you succeed when navigating this complex legislation.
What You’ll Learn
Overview of the PPSA – the “what”, “when” and “how” of attachment
Principal elements of financing statements, acknowledgements and searches
Differences in PPSA legislation in the common law provinces
How to examine a PPSA response certificate
Exceptions to the “first come, first served” priority rules
Real property issues and the PPSA
Fundamental registration issues and relevant case law
Key elements of the Securities Transfer Act, 2006, and taking security in investment property
Basic opinion elements – enforceability, creation of a valid security interest perfection, and more
Plus! Reinforce your PPSA skills in the live Workshop (optional)where you’ll apply key provisions in thought-provoking client scenarios
Laina Smith
Infrastructure Ontario
“Great program! Would highly recommend it! The materials [were] critical to have. Thanks for the educational day.”
Who Should Attend
Lawyers whose practice includes:
financial services and banking
bankruptcy and insolvency
corporate/commercial
real estate law
In-house counsel, executives and professionals involved with companies engaged in transactions or secured lending
Law clerks and paralegals who prepare PPSA filings, conduct PPSA searches and examine PPSA response certificates
Professionals who engage with the PPSA, secured lending or assets involving security
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
Liliana Carpico Norton Rose Fulbright Canada LLP
Nicole Segouin Norton Rose Fulbright Canada LLP
Learn what steps to take and what content to include when preparing financing statements, as you participate in the actual drafting of a sample document:
Debtor/secured party names and addresses and 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
10:45 a.m. Break
Liliana Carpico Norton Rose Fulbright Canada LLP
Nicole Segouin Norton Rose Fulbright Canada LLP
How to examine a PPSA response certificate
Things to consider when reviewing PPSA search results
Dealing with potentially competing prior registrations
Meaghan Obee Tower Stikeman Elliott LLP
Utilizing small work groups, these case studies will include a number of PPSA and related issues that will then be discussed in an interactive forum. You will learn 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
12:30 p.m. Lunch Break
Dan Dedic Goodmans LLP
Basic opinion elements: enforceability, creation of a valid security interest perfection and other elements
The purpose of each element of the opinion
Crafting appropriate qualifications
Opinion formulations to avoid
Dealing with lien searches and registrations
Conflict of laws issues
Perfection by control
Ethics and legal opinions
Current opinion issues
Noel Chow McCarthy Tétrault LLP
This presentation will highlight key concepts of the Securities Transfer Act, 2006 and its impact on taking security interest over personal property, including:
The “direct” and “indirect” holding systems
Introduction to the terms “investment property” and “control”
Certificated and uncertificated securities
Perfection, priority and conflict of laws rules
3:15 p.m.
Break
Ben Leith Cassels Brock & Blackwell LLP
Recent developments in the comparative priority of distress
Real property law perspective on fixture financing
Practice management and competency issues relating to real property transactions and the PPSA
Understanding the applicable legislation
Identifying the risks and keeping the client informed
Daniel Cipollone Cassels Brock & Blackwell LLP
Before “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:
As law evolves, we know how important it is to stay up to date. We also understand the financial implications of continuously upgrading your professional skills and knowledge. For more information on available options, including Job Grants, OSAP, please visit:
OsgoodePD is an accredited provider with the LSO, the Law Society of BC and NY CLE Board. Select your location to view the eligible hours you may claim.
All online; combination of live and asynchronous learning.
4 Days
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