__MAIN_TEXT__
feature-image

Page 1

Completed 1.

Full and clear instructions received from the lender in writing or confirmed in writing.

2.

Obtain all required searches — Personal Property Securities Register, Company, Land Transfer, other.

3.

Information facsimile/letter sent.

4.

Response to information facsimile received.

5.

Review all Company searches for: •

incorporation

charges

constitution adopted or not

adverse interests

liquidation/receivership

method of contracting permitted.

NOTE: The level of inquiry could affect the protection provided by section 18 of the Companies Act 1993. 6.

Review Land Transfer searches for: •

mortgages

other encumbrances

land consents

Council encumbrances

correct registered proprietor details

consent notices

anything else to be investigated.

7.

Check other searches to ascertain ownership and other charges. If personal property is involved, check the PPSA register.

8.

Identify any consents, approvals, contracts required (ie for the borrower’s business or project — are they in force? Are there conditions of concern?).

Outstanding


9.

If a Trust is involved, obtain a copy of the trust deed, any variations, and any change of trustees. Check execution, valid perpetuity period and trustee power for the transaction.

10.

All relevant loan and security documentation drafted, checked and sent to borrower’s solicitor (if applicable).

11.

Signed documentation received and checked. Necessary director/trustee resolutions completed, special resolutions passed for major transactions, entitled persons’ agreement completed if interested directors involved. Lodge a financing statement before settlement if personal property is charged. Check before settling that you have the required priority.

12.

All other settlement requirements received.

13.

Outstanding Lender preconditions to advancing the loan satisfied.

14.

Bill the file pre-settlement.

15.

Complete settlement.

16.

Attend to registration of securities within prescribed time limits and in the correct Registry.

17.

Report to Lender.

18.

Borrower’s copy of signed documents forwarded.

19.

Disbursement reconciliation completed (when lump sum obtained on account of disbursements).

Profile for Queen City Law

Lender Checklist - 177814_1  

4. Response to information facsimile received. 16. Attend to registration of securities within prescribed time limits and in the correct Reg...

Lender Checklist - 177814_1  

4. Response to information facsimile received. 16. Attend to registration of securities within prescribed time limits and in the correct Reg...

Advertisement

Recommendations could not be loaded

Recommendations could not be loaded

Recommendations could not be loaded

Recommendations could not be loaded