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Kirkalocka Gold SPV Pty Ltd (Receivers and Managers Appointed) v Zenith Pacific (KLK) Pty Ltd, in the matter of Kirkalocka Gold SPV Pty Ltd [2024] FCA 428

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INSOLVENCY -- application seeking declaration that the applicant is the legal and beneficial owner of the Zenith Power Plant -- where Notice of cross-claim seeks declaration that the respondent is the legal and beneficial owner of the Zenith Power Plant -- where the parties are parties to a Power Purchase Agreement -- where respondent found to have actual possession of the Zenith Power Plant -- whether the respondent had a "security interest" in the Zenith Power Plant by reason of s 12(1) of the Personal Property Securities Act 2009 (Cth) (PPSA)-- whether there is interest in personal property provided for by a transaction -- whether the interest in personal property secures payment or performance of an obligation -- whether the respondent had a "security interest" by reasons of s 12(3) of the PPSA -- whether, if there is a security interest, it was perfected before the applicant went into administration -- consideration of "apparent possession" -- held: the cross-claim is upheld

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