Storage bailment arrangements where the bailor is not in the business of bailing goods and does not profit from the bailment do not constitute PPS leases under s 13 of the PPSA. Consignment arrangements that serve a mutual commercial advantage rather than securing a debt are not security interests under s 12(2)(h). Receivers' equitable liens extend to costs of identifying and returning third-party goods under broadly interpreted salvage principles. Section 424 of the Corporations Act can be used to authorise out-of-court receivers to deal with unclaimed goods, provided adequate steps are taken to protect owners' interests. The meaning of 'value' in s 13(3) of the PPSA remains unresolved.
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