22 July 2014
Mr. Bruce Whittaker
PPSA Review Secretariat
Commercial and Administrative Law Branch
Attorney-General’s Department
3-5 National Circuit
BARTON ACT 2600
ppsareview@ag.gov.au
Secretariat Whittaker:
BDGlobal is a rapidly expanding business development company headquartered in Salt Lake City, Utah,
USA. Our expertise is in finding promising business ventures and providing them with the necessary
resources for growth. We have recently expanded to China and are looking for other opportunities in
Asia and the South Pacific.
As we explore new ventures, we are always mindful of the business environment and economic stability
of new markets. Australia has always maintained a favorable place for American businesses and is high
on our list for expansion. However, government regulations like the Personal Property Securities Act of
2009 make us hesitate because of the negative implications for foreign investments.
Section 13 of the PPS Act will allow unscrupulous entities to register bogus security interests in leased
property owned by companies doing business with BDGlobal. Treatment of lease agreements as
security interests under the PPS Act allows Australian companies to improperly list leased property as
security for a commercial loan. If the loan is in default, the lessor, which is often an American company
has lost all rights to the property.
Companies like BDGlobal are looking for safe investment opportunities. Because of this, we ask that
your final report to the Attorney General recommend strong measures to protect foreign investor’s
interest in leased property. American companies add billions of dollars to the Australian economy. The
PPS Act puts future expenditures in jeopardy and will be detrimental to Australia as well as all foreign
investors.
Respectfully,
Blaine D. Hone
C.E.O./Managing Partner
www.bdglobal.net