Question: THIS IS BTF2000 UNIT, Please answer using Irac FORM. Going for Broke Pty Ltd borrows $500000 from its bank. The bank is granted a security

THIS IS BTF2000 UNIT, Please answer using Irac FORM.

Going for Broke Pty Ltd borrows $500000 from its bank. The bank is granted a security interest in some of Going for Broke's equipment. Going for Broke Pty defaults on the loan and appoints a voluntary administrator. Advise whether the bank is entitled to seize Going for Broke's equipment that is subject to the security interest. How would your answer be different if the bank's security interest covered all of the assets of Going for Broke Pty Ltd

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