Useful Forms

If you wish to lodge a claim in a liquidation or receivership, you can download the appropriate form on this page.

Unsecured Claim Form

This form is required to lodge your claim as an unsecured creditor in a liquidation. If you have a retention of title or Personal Property Securities Act claim, you will also need to complete a Secure Claim Form.

Wages Claims

If you worked for a company now in liquidation you will need to use an unsecured creditor claim form to claim for any unpaid wages, holiday pay or special leave still owed to you when the company went into liquidation. Please also ensure you fill out the back of the form listing unpaid wages and holiday pay separately and if you can supply payslips that would give us most of the information we need to start processing your claim.

Secured Claim Form

This form is required to lodge your claim as a secured creditor in a liquidation. You may value your security and claim as an unsecured creditor for the balance of your debt. If you have a retention of title or Personal Property Securities Act claim, then you may lodge a secured creditor claim using this form.




Some important information for SECURED CREDITORS:

RESERVATION OF TITLE CLAIMS/SECURITY INTERESTS

Any creditor who wishes to make a reservation of title claim or claims a security interest against the company assets must inform the Liquidators and provide relevant documentation within 10 working days.

INFORMATION for Secured Creditors: Retention of Title to Inventory on Liquidation

• Securing payment for inventory by including retention of title clause or general security interest in the supply agreement /terms of trade

NOTE: In the absence of perfecting the security interest by registration of a financing statement on the Personal Property Security Register (PPSR) a supplier may not be afforded protection against nonpayment where there are other creditors with competing interest in the same goods.

• What Purchase Money Security Interest (PMSI) means?

The Personal Property and Securities Act 1999 (PPSA 1999), Section 16 defines a PMSI as
“a security interest taken in collateral by a seller to the extent that it secures the obligation to pay all or part of the collateral’s purchase price.”

A specific security interest taken in an item of inventory will only be to the extent that the specific item secures its purchase price. The PMSI relates only to the unpaid inventory that can be positively identified by the secured creditor at the date of liquidation.

• Perfection of Security Interest and priority of a PMSI

By means of registration on the PPSR, the PPSA 1999 accords the PMSI priority over other non PSMI security interests.

Additionally, the Seventh Schedule of the Companies Act 1993 gives priority to PMSI holders over preferential creditors in regards to inventory.

• What is the effect of not registering or an invalid registration?

The obligation to perfect the security interest and to register it validly on the PPSR falls on the creditor. Failure to do this properly has the effect that the holder of the security interest will not have the priority given to a PMSI by the PPSA 1999 and Companies Act 1993.

Consequently, the unperfected security interest ranks below perfected security interests in those goods and preferential claims in the liquidation.

• What documentation will be required to prove a secured creditors’ claim?

This may include an initial credit application form and relevant invoices to identify inventory supplied by the creditor, security documents as well as details of registration under the PPSA 1999.

Where necessary identification by the secured creditor of inventory unpaid for at the date of liquidation will be required by a process of cross referencing the inventory held at date of liquidation (which can be requested from the liquidators) as against invoices unpaid.

Generally speaking, a secured creditor with a perfected security interest / PMSI who can identify unpaid inventory has first priority over these goods the liquidation.

If there are any forms not shown here or you have questions you cannot find the answer to - please ask us