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Farris LLP: Vancouver's Law Firm


04 March 2011

Rebecca Morse Summarizes Recent SCC Decisions on the PPSA and the Bank Act

Farris Associate Rebecca Morse discusses recent litigation updates to the Bank Act and the provincial Personal Property Security Act (PPSA) in her latest article, entitled “Priority Disputes between the Bank Act and Provincial PPSA Legislation.”

Morse cites two Supreme Court of Canada (SCC) decisions, Bank of Montreal v. Innovation Credit Union, 2010 SCC 47 and Royal Bank of Canada v. Radius Credit Union, 2010 SCC 48, which were handed down in November 2010.

She summarizes that the rulings give priority to unregistered security interests granted under provincial PPSA legislation over subsequently acquired Bank Act security interests.

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