This paper examines new and emerging legislative and judicial developments in personal property security law and highlights fundamental principles that underlie the Personal Property Security Act [PPSA]. It includes a discussion of conflict of laws provisions, operational features of the PPSA, and significant legislative changes relating to aircraft and Bank Act security. The paper also reviews recent jurisprudence related to the effect of misdescription of collateral in security agreements, buyer cut-off rules, registration errors, and the effect of a subsequent registration lapse on priorities.

This paper is part of a collection presented at LESA’s Personal Property Security and Debt Recovery Essentials program in Edmonton on May 17, 2017 and in Calgary on May 24, 2017.