Check whether an unperfected security interest vests on insolvency
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the search and the insolvency appointment, list whether the interest was unperfected at the time section 267 identifies, and the appointment type. The tool does not say that the interest has vested.
- What the lawyer must review
- The lawyer decides the relevant time, whether an exception in section 268 applies, and what the insolvency practitioner or the secured party should be told.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | From the search and the insolvency appointment, list whether the interest was unperfected at the time section 267 identifies, and the appointment type. The tool does not say that the interest has vested. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- The section covers a winding up, an administration, a deed of company arrangement, appointment of a restructuring practitioner, a restructuring plan, the statutory-management provisions it names, and bankruptcy.
- An unperfected interest vests in the grantor immediately before the insolvency event. The relevant time is in section 267(1)(b). The lawyer works through that time.
- The section notes that some interests are excluded by section 268. Section 268 was not opened. The lawyer reads it before treating an interest as vested.
- This is the vesting question. Mapping the enforcement options on a default is a separate task.
Sources
- Personal Property Securities Act 2009 section 267 · 2026-10-22
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.