In the matter of T.T.L. Australia Pty Ltd (recs & mgrs apptd) (in liq)

The parties involved in this matter were T.T.L. Australia Pty Ltd (in liquidation) and the liquidators appointed to the company. The dispute arose in relation to the registration of a security interest under the Personal Property Securities Act 2009 (Cth). The court had to decide whether the liquidators could apply under section 588FM of the Corporations Act 2001 (Cth) to fix the registration time for the security interest, given that the plaintiff was unaware that such a registrable security interest had arisen. The primary issue was whether the failure to register the security interest was due to inadvertence.

The court examined whether the failure to register the security interest was inadvertent and whether the liquidators could seek relief under section 588FM. The court noted that if the failure to register was due to inadvertence, the liquidators could apply for the registration time to be fixed. The court considered the definition of 'inadvertence' and the circumstances in which the failure to register occurred. The court concluded that the plaintiff's lack of awareness of the registrable security interest could be considered inadvertent. The court held that the liquidators could apply under section 588FM to fix the registration time.

The court determined that the liquidators could apply to fix the registration time for the security interest. The court found that the plaintiff's lack of awareness of the registrable security interest was inadvertent and that the failure to register the security interest was due to inadvertence. The court granted the liquidators' application to fix the registration time for the security interest. The court ordered that the liquidators could apply under section 588FM of the Corporations Act to fix the registration time, provided that the failure to register the security interest was due to inadvertence.