The New Personal Property Security Regimes - Have We Gone Too Far

The following is an excerpt from the Alberta Law Review's new book An Introduction to the Personal Property Security Act of Alberta. Professor Ziegel, who has been involved with PPSA legislation since its introduction in Canada in the 1970's, considers the philosophical underpinnings of this new wave of creditor-debtor regulations. He is concerned that the benefit to the secured creditor may be gained at the expense of unsecured parties, and suggests further fine tuning may be required to better balance the respective interests of secured and unsecured creditors.