This book examines the legal framework for secured credit set out in the Personal Property Security Act. First proclaimed by Ontario in 1976, the PPSA is in force today in all nine common law provinces and the three federal territories. This second edition updates the area of personal property security law in Canada with new caselaw, including some important SCC cases clarifying the law or providing the conceptual basis for its further amplification. In addition, the book covers significant changes to legislation which interfaces with the PPSA, such as the Securities Transfer Acts and their Quebec equivalent, now brought into effect in most Canadian jurisdictions.

Professor Ronald CC Cuming teaches at the College of Law, University of Saskatchewan. The focus of his academic work over a career of forty-six years (to date) has been on research that provides the basis for reform of Canadian and international commercial law. His primary motivation has been to engage in legal research and analysis that is influential beyond the academic community. His goal has been to have his work induce significant beneficial changes in national and international law. His recommendations have been incorporated in Canadian federal law and the law of nine provinces and territories of Canada. He participated in the development of three private international law conventions. One of these, proposed by him and in the development of which he played a central role, has resulted in the creation of a world-scale legal structure for secured financing that has no antecedents in the history of international law. Professor Cuming has acted as a consultant to international development agencies including the World Bank (Washington), the United Nations Commission on International Trade Law (Vienna), the International Institute for the Unification of Private Law (Rome), the Asian Development Bank (Manila), the Organization of American States (Washington), and the United States Agency for International Development (Washington). His work has principally involved advising national governments in the design of legal structures that facilitate economic development in countries including countries in Eastern European, the Middle East, Latin America, and Africa. Professor Cuming’s work in the form of journal articles and books has been extensively quoted, and his analysis has been applied many times by Canadian trial and appeal courts, and several times by the Supreme Court of Canada.

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Catherine Walsh is a professor at the Faculty of Law of McGill University and was formerly a professor at the Faculty of Law of the University of New Brunswick. Her principal teaching and research interests are secured transactions law and private international law with a focus on their comparative dimensions. In addition to publishing law review articles and commentary in these fields, she co-authored a national casebook on private international law and is the author of an annotated commentary on the New Brunswick Personal Property Security Act (PPSA). She has contributed to law reform initiatives in the field of secured transactions law at the provincial, national, and international levels. Her law reform contributions have ranged from advice on the implementation of PPSA-type legislation in particular jurisdictions, to reports on the interface between secured transactions law and intellectual property law, and between secured transactions law and private international law. Additional contributions include whether and how to implement international initiatives into national law. Her service contributions at the international level include assisting as an expert member of Canadian delegations to several intergovernmental organizations, most predominantly the Working Group on Secured Transactions of the United Nations Commission on International Trade Law (UNCITRAL).

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Roderick J Wood is the FR (Dick) Matthews QC Professor of Business Law at the Faculty of Law, University of Alberta, Edmonton. He teaches and publishes in the areas of bankruptcy and insolvency law, personal property security law, and commercial law. He has co-authored books on secured transactions law in Canada and in New Zealand, and has written extensively in various law journals. He is the 2004 recipient of the Tevie H Miller Teaching Excellence Award for the Faculty of Law, a 2005 recipient of the AC Rutherford Award for Excellence in Undergraduate Teaching at the University of Alberta, and a 2006 recipient of a McCalla Professorship for his contribution to research in law at the University of Alberta. Professor Wood was appointed as the inaugural Estey Chair in Business Law at the College of Law, University of Saskatchewan, during the 2014–15 academic year. Professor Wood has served as associate dean (1997 to 1999) at the Faculty of Law, as a board member of the Alberta Law Reform Institute (1997 to 2001), and as commissioner of the Law Commission of Canada (2001 to 2006). Professor Wood was a member of the Canadian delegation at diplomatic conferences in Luxembourg in 2007 and Berlin in 2012 that produced international instruments governing the secured financing of rail assets and space assets, and was a member of the drafting committee that produced the text of the Luxembourg Protocol to the Unidroit Convention on International Interests in Mobile Equipment.

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