A LEADING proponent of the personal property security register (PPSR) and purchase money security interests (PMSIs) as means of managing counterparty risk in the grains industry has defended the products from claims they are not worth the effort.
Chris Heinjus, director with South Australian-based agribusiness Rural Directions, said using the government-backed mechanism would at very least give grain growers better leverage when dealing with debtors.
The register is a government-backed mechanism which, in the grains industry, allows growers to register their grain via PMSIs.
Once the grain is registered, growers are elevated in status in the event of an insolvency from an unsecured to a secured creditor, vastly improvin…
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