Commodity Briefcase - June 2007
Retention of Title and Insolvency: Are the goods really yours?
A bankruptcy or an insolvency event often raises questions regarding the transfer of title of goods. In the February 2007 Briefcase we reviewed the recent amendments to the New South Wales Sale of Goods Act (1923) and the Warehousemans Liens Act (1935) which offer some protection over title to warehoused or commingled goods. One of the main issues affecting retention clauses is the status of goods in the possession of a third party. In this edition we review two recent judgments regarding retention of title clauses in sale of goods agreements, where the goods are in the hands of a third party.
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