Jack is a chef from Queensland and recently moved to Melbourne. He is keen to open up a restaurant in Brunswick.

He finds a great premises to lease on Sydney Rd. He signs a lease with the property owner Ted.

Jack cannot afford to buy the kitchen equipment for the restaurant outright so he gets a loan from Shifty Bank for $150,000.

A term of the loan agreement was that Shifty Bank register the equipment on the Personal Property Securities Register and then deliver it to Jack at the Brunswick site.

Jack opens the restaurantbut with Covid lockdownsit doesn't do well. After a few weeks, he is unable to keep up the rental payments to Ted his Landlord and other suppliers.

After another month of not receiving his rent, Ted changes the locks on the restaurant premises and says that until his rent is paid in full, he has complete ownership and interest of everything inside.

As a lawyer Advise Shifty Bank on what their position is in regards to their interest in the kitchen equipment versus Ted's

Interpret and apply legislation, case law and industry codes to problem scenarios