Angelis v CP Pty Ltd [2026] FCA 49

1. This is an interlocutory application pursuant to s 280 of the Personal Properties Securities Act 2009 (Cth) (PPSA) for an order that, by 5 February 2026, the first respondent provide the applicant with a complete and correct response to the applicant's request under s 275 of the PPSA sent on 21 May 2024.
2. The applicant relies on his affidavit filed on 12 March 2025, together with its annexures, and an affidavit of Sarah Cappello dated 19 December 2025 and filed on 6 January 2026, together with its annexures.
3. Section 275 of the PPSA permits a person to:

... request a secured party who holds a security interest in collateral, to send or make available to the interested person any of the following:

Relevantly, in this case:

(a) a copy of the security agreement that provides for the security interest;

(b) a statement in writing setting out the amount or the obligation that is secured by the security interest and the terms of payment or performance of the obligation as at the date specified in the request;

(1) A person who makes a request under section 275 may apply to a court for an order under this section if the person required to respond to the request has:

(a) not responded to the request:

(i) within the time specified in section 277; or

...

(b) provided an incomplete or incorrect response; or

(c) refused to respond to the request because of subsection 275(5) or (6).

1. It is uncontroversial that no response to the request was made to that sent on 21 May 2024 within the relevant time period. Nevertheless, the first respondent has purported to respond to the request by letter dated 30 January 2026, in which the first respondent's solicitors state that they are instructed:

... that the complete and correct amount that is secured by CP's security interest:

(a) as at 21 May 2024, was:

(i) $3,491,566 (rounded up the nearest dollar) in principal; and

(ii) $1,043,765 in accrued interest, calculated at the Federal Court interest rate;

(b) as at 30 January 2026, is:

(i) $3,491,566 (rounded up the nearest dollar) in principal; and

(ii) $1,526,911 in accrued interest, calculated at the Federal Court interest rate.

1. The applicant, whilst not disavowing his right to rely on s 280(1)(a) of the PPSA, concedes that as a matter of substance, if not form, a response has now been provided. The applicant's basis for this current application is a submission that the response provided on 30 January 2026 is incomplete or incorrect. I am asked to make a finding as a matter of fact that that is so. I am asked to make that finding on the basis that there have been four alternative iterations of the amount alleged to be owing by the first respondent given between 6 June 2024 and 4 November 2025, including a difference in the amount in the first respondent's most recently filed points of contention and the amount stated in the letter of 30 January 2026. Counsel for the applicant told me that the evidence that would enable me to be satisfied of that as a matter of fact is contained in a six-volume court book that will be before me in the trial of the matter that is due to commence in the last week of February. Further, the substantive relief sought by the originating application, and which is the subject of the trial, is identical to that which is provided for in s 280 of the PPSA.
2. In the circumstances, I am not satisfied that there is sufficient evidence before me on this application to make a finding of fact that the amount stated in the letter of 30 January 2026 is incomplete or incorrect. For that reason, I dismiss the interlocutory application with costs.

I certify that the preceding seven (7) numbered paragraphs are a true copy of the Reasons for Judgment of the Honourable Justice Sarah C Derrington.