Professor Sheelagh McCracken

MA (Camb) PhD (Sydney) Cert H.Ed (UNSW)
Professor of Finance Law

F10 - Law School (Camperdown)
The University of Sydney

Telephone +61 2 9351 0453
Fax +61 2 9351 0200

Biographical details

Dr Sheelagh McCracken is Professor of Finance Law at the University of Sydney and a Fellow of the Australian Academy of Law. She has taught finance law in various centres in Australia and around the Asia-Pacific region including Singapore, Hong Kong, Beijing and Tokyo. She writes and speaks regularly on finance law, recently focusing in particular on secured transactions law. Amongst the range of books she has published is a standard Australian text, Everett & McCracken’s Banking and Financial Institutions Law, which she has co-authored for over 25 years and the 8th edition of which was published in 2013.

Sheelagh completed her undergraduate law degree at the University of Cambridge and practised as a commercial solicitor with a major commercial law firm in London. She obtained her PhD from the University of Sydney, which was subsequently published in London as The Banker’s Remedy of Set-Off and is currently in its third edition. She has consulted to a number of major Australian commercial law firms as well as other overseas and domestic organisations. She was the founding chair of the Academic Committee of the Banking and Financial Services Law Association from 2013-2015. Recently, she has been appointed to the Editorial Board of the Journal of Banking and Finance Law and Practice and has also become a Fellow of UNCCA.

Research interests

  • Finance law
  • Commercial law
  • Personal property securities law

Teaching and supervision

Undergraduate

  • Introduction to Property and Commercial Law
  • Equity and Financial Risk Allocation
  • Secured Transactions in Commercial Law

Postgraduate

  • Fundamentals of Finance Law
  • Personal Property Securities
  • Fundamentals of Commercial Law
  • Financial Risk Allocation in Equity

Current projects

  • Capacity Building for Cambodian Legal and Judicial Practitioners - Australia Awards Fellowship Program 2013 (Round 13) (AusAID), Bath V, Brown C, McCracken S, McDonald B, Nottage L, Stumbles J.

Selected grants

2014

  • Sydney Law School- National University of Singapore Symposium; McDonald B, Bath V, Brown C, Courtney W, McCracken S, Rolph D, Weatherall K, Tan Kah Heng D; DVC International/IPDF Grant.

2012

  • Regulation and Reforms to Enhance Financial Stability in the Post-GFC Era; Hill J, Bird J, Cooper G, Dirkis M, McCracken S, Stumbles J, Tolhurst G, Vann R; Centre for International Finance and Regulation/Research Support.

Selected publications

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Books

  • McCracken, S., Bird, J., Stumbles, J., Tolhurst, G. (2013). Everett and McCrackens Banking and Financial Institutions Law - 8th Edition. Sydney, Australia: Thomson Lawbook Co. (Thompson Reuters).
  • McCracken, S. (2010). The Bankers Remedy of Set-Off - 3rd Edition. Haywards Heath, West Sussex: Bloomsbury Professional.
  • McCracken, S., Everett, A. (2009). Everett & McCracken's Banking and Financial Institutions Law (7th edition). Sydney: Lawbook Co.

Edited Books

  • McCracken, S., Griffiths, S. (2015). Making Banking and Finance Law: A Snapshot. Sydney: Ross Parsons Centre of Commercial, Corporate and Taxation Law.
  • Griffiths, S., McCracken, S., Wardrop, A. (2014). Exploring Tensions in Finance Law: Trans-Tasman Insights. Wellington, New Zealand: Thomson Reuters.

Book Chapters

  • Decker, F., McCracken, S. (2016). Security as a Potential Driver in Shaping the Legal Concept of Property: From the Roman Quadrata to Personal Property Securities Legislation (Forthcoming). In J. Beaufort, F. Decker (Eds.), Festschrift fur Gunnar Heinshohn aus Anlass des 20. Erscheinungsjahres von Eigentum, Zins und Geld. Germany: Metropolis.
  • McCracken, S. (2015). Marshalling: A Case Study in Complexity. In Russell L. Weaver, Francois Lichere (Eds.), Remedies and Property: Volume 2, (pp. 99-114). Marseille: Presses Universitaires d'Aix-Marseille.
  • McCracken, S. (2015). Security Interests: Crossing the Rubicon. In Sheelagh McCracken, Shelley Griffiths (Eds.), Making Banking and Finance Law: A Snapshot, (pp. 93-115). Sydney: Ross Parsons Centre of Commercial, Corporate and Taxation Law.
  • Griffiths, S., McCracken, S., Wardrop, A. (2014). Exploring Tensions in Finance Law. In S. Griffiths, S. McCracken, A. Wardrop (Eds.), Exploring Tensions in Finance Law: Trans-Tasman Insights, (pp. 1-10). Wellington, New Zealand: Thomson Reuters.
  • McCracken, S. (2014). The Personal Property Security Interest: Identifying Some Essential Attributes. In Ann Wardrop (Eds.), Banking and Finance: Perspectives on Law and Regulation, (pp. 146-170). Sydney, Australia: Federation Press.
  • McCracken, S. (2014). When is a "Buyer" a "Buyer"? Solving Riddles When New Legislation Confronts Established Concepts. In S. Griffiths, S. McCracken, A. Wardrop (Eds.), Exploring Tensions in Finance Law: Trans-Tasman Insights, (pp. 175-197). Wellington, New Zealand: Thomson Reuters.
  • McCracken, S. (2013). Security Within the Scope of the Personal Property Securities Act 2009 (Cth) (PPSA). In Sheelagh McCracken, Joanna Bird, John Stumbles, Greg Tolhurst (Eds.), Everett and McCrackens Banking and Financial Institutions Law - 8th Edition, (pp. 487-540). Sydney, Australia: Thomson Lawbook Co. (Thompson Reuters).
  • Jones, A., McCracken, S. (2011). Crossing the boundary between finance and law: The collaborative problematisation of professional learning in a postgraduate classroom. In C Candlin and S Sarangi (Eds.), Handbook of Communication in Organisations and Professions, (pp. 499-518). Berlin: De Gruyter Mouton.
  • Jones, A., McCracken, S. (2007). Teaching the discourse of legal risk to finance professionals: foundations for a linguistically scaffolded curriculum. In Robert Wilkinson, Vera Zegers (Eds.), Researching Content and Language Integration in Higher Education, (pp. 122-136). The Netherlands: Maastricht University.

Journals

  • McCracken, S., Stumbles, J., Tolhurst, G. (2015). Title Transfer Collateral Arrangements under the Personal Property Securities Act 2009 (Cth): Paper I Setting the Scene. Journal of Contract Law, 33(1), 1-19.
  • McCracken, S., Stumbles, J., Tolhurst, G. (2015). Title Transfer Collateral Arrangements under the Personal Property Securities Act 2009 (Cth): Paper II Arrangements as Security Interests. Journal of Contract Law, 33(1), 20-43.
  • McCracken, S., Stumbles, J., Tolhurst, G. (2015). Title Transfer Collateral Arrangements under the Personal Property Securities Act 2009 (Cth): Paper III Exclusions and Consequences. Journal of Contract Law, 33(1), 44-64.
  • McCracken, S., Stumbles, J., Tolhurst, G. (2015). Title Transfer Collateral Arrangements under the Personal Property Securities Act 2009 (Cth): Paper IV Securities as Collateral. Journal of Contract Law, 33(1), 65-87.
  • McCracken, S. (2014). Construing the Personal Property Securities Act 2009 (Cth): interpretation or interpolation? Commercial Law Quarterly, 27(4), 3-10.
  • McCracken, S. (2014). Personal Property Securities Legislation: Analysing the New Lexicon. Adelaide Law Review, 35(1), 71-95.
  • McCracken, S. (2013). Book Review: Australian Personal Property Securities Law by Anthony Duggan and David Brown LexisNexis Butterworths, 2012 xxxvii + 371 pp ISBN 978 0 409330 32 8. Adelaide Law Review, 34(2), 473-475.
  • McCracken, S. (2011). Conceptualising the Rights of a Lessee under the Personal Property Securities Regime: the Challenge of 'New Learning' for Australian Lawyers. University of New South Wales Law Journal, 34(2), 547-566.
  • McCracken, S. (2011). Getting to grips with the reforms to Personal Property Securities Law. Commercial Law Quarterly, 25(3), 3-11.

Conferences

  • Decker, F., McCracken, S. (2016). 4th Annual Centre for Commercial Law Studies (CCLS)-Bank of England Conference 2016: Central Banking in its Institutional Context, London, England: Presentation.
  • McCracken, S. (2016). Identifying Security Interests under Functional Statutory Secured Transactions Regimes. Royal Academy for Judicial Professions, Phnom Penh, Cambodia: Presentation.
  • McCracken, S. (2015). "2 Variables; 1 Constant": New Developments in the Application of PPSA Default Priority Rules. 32nd Annual Conference of the Banking & Financial Services Law Association (BFSLA) 2015, Brisbane, Qld: Presentation.
  • McCracken, S. (2015). "If I were going there, sure I wouldn't be starting from here": a case study on the importance of legal infrastructure for the exercise of a remedy. 9th Remedies Discussion Forum 2015: University Paris-Dauphine, Washington & Lee University School of Law, University of Windsor Faculty of Law, Emory University School of Law, Sydney Law School, University of Louisville’s Louis D Brandeis School of Law, Paris, France: Presentation.
  • Loxton, D., McCracken, S. (2015). PPSA Models: Easy as ABCD? 3rd Annual Colloquium of the Academic Committee of the Banking and Financial Services Law Association (BFSLA) 2015 - Finance Law: Global and Regional Challenges, Sydney, NSW: Presentation.
  • McCracken, S., Stumbles, J., Sellars, A. (2015). Security Interests: Draft Model Law on Secured Transactions and Australia. UNCITRAL Australia Seminar: Co-Hosted by the Commonwealth Attorney-General's Department, the UNCITRAL National Coordination Committee for Australia, and the UNCITRAL Regional Centre for Asia and the Pacific, Canberra, ACT: Presentation.
  • McCracken, S. (2014). Marshalling: a topical case study in exploring complexity of property remedies. Property Remedies Forum 2014 - Hosted by: University of Aix-Marseille Faculty of Law; Emory University School of Law; Sydney Law School; Washington & Lee University School of Law; University of Louisvilles Louis D. Brandeis School of Law, Aix-en-Provence, France: Presentation.
  • McCracken, S., Stumbles, J., Tolhurst, G. (2014). Ostensible Ownership: An Outmoded Concept in a Secured Transactions Regime? Annual Colloquium of the Academic Committee of the Banking & Financial Services Law Association (BFSLA) 2014, Sydney, NSW: Presentation.
  • McCracken, S., Stumbles, J., Tolhurst, G. (2014). Personal Property Securities: Views from the City. Specialist Roundtable - November 2014, Sydney, NSW: Presentation.
  • McCracken, S., Stumbles, J., Tolhurst, G. (2014). Title Transfer Collateralisation Arrangements as Secured Transactions. Specialist Roundtable - July 2014, Sydney, NSW: Presentation.
  • McCracken, S. (2014). When is a "buyer", a "buyer"? Solving riddles when new legislation confronts established concepts. Banking & Financial Services Law Association Academic Committee Workshop 2014: Exploring Tensions in Finance Law, Sydney, NSW: Presentation.
  • McCracken, S. (2014). When Law and Commerce Fall Temporarily Out of Step: An Australian Case Study on Secured Transactions. Sydney Law School - National University of Singapore Symposium 2014, Sydney, NSW: Presentation.
  • McCracken, S. (2013). Analysing the New Lexicon. Personal Property Security Law: Local and Global Perspectives Sympoium 2014, Adelaide, SA: Presentation.

Magazine / Newspaper Articles

  • McCracken, S. (2010). Combination of accounts: a contrast in banker-customer expectations. Butterworths Corporation Law Bulletin, 25.

Report

  • Hill, J., Cooper, G., Dirkis, M., McCracken, S., Stumbles, J., Tolhurst, G., Vann, R. (2014). Regulation and Reforms to Enhance Financial Stability in the Post-GFC Era - Report for the Centre for International Finance and Regulation (CIFR).

Reference Works

  • McCracken, S. (2016). Contribution to the LexisNexis Encyclopaedic Australian Legal Dictionary. (Corporations Law and Personal Property Securities). Australia: LexisNexis.
  • McCracken, S. (2015). Personal Property Securities. In Ray Finkelstein, David Hamer (Eds.), LexisNexis Concise Australian Legal Dictionary - 5th Edition. (pp. 473). Australia: LexisNexis.
  • Decker, F., McCracken, S. (2015). Security, Commercial Transactions. In James D. Wright (Eds.), International Encyclopedia of the Social & Behavioral Sciences - 2nd Edition. (pp. 400-406). United States: Elsevier Inc.
  • McCracken, S., Boxall, A. (2012). Guarantees and Indemnities. Halsbury's Laws of Australia - Fifth Edition. Australia: LexisNexis.
  • McCracken, S. (2010). Personal Property Securities. In Peter Butt, D. Hamer (Eds.), LexisNexis Concise Australian Legal Dictionary - 4th Edition. Australia: LexisNexis.

Other

  • McCracken, S., Stumbles, J., Tolhurst, G. (2014), Submission to the Review of the Personal Property Securities Act 2009: Consultation Paper No 1.
  • McCracken, S. (2014), Submission to the Review of the Personal Property Securities Act 2009: Consultation Paper No 2.
  • McCracken, S. (2014), United Nations Commission on International Trade Law, Working Group VI (Security Interests) 26th Session, Vienna Austria, 8-12 December 2014: Observer on behalf of LAWASIA.

2016

  • Decker, F., McCracken, S. (2016). 4th Annual Centre for Commercial Law Studies (CCLS)-Bank of England Conference 2016: Central Banking in its Institutional Context, London, England: Presentation.
  • McCracken, S. (2016). Contribution to the LexisNexis Encyclopaedic Australian Legal Dictionary. (Corporations Law and Personal Property Securities). Australia: LexisNexis.
  • McCracken, S. (2016). Identifying Security Interests under Functional Statutory Secured Transactions Regimes. Royal Academy for Judicial Professions, Phnom Penh, Cambodia: Presentation.
  • Decker, F., McCracken, S. (2016). Security as a Potential Driver in Shaping the Legal Concept of Property: From the Roman Quadrata to Personal Property Securities Legislation (Forthcoming). In J. Beaufort, F. Decker (Eds.), Festschrift fur Gunnar Heinshohn aus Anlass des 20. Erscheinungsjahres von Eigentum, Zins und Geld. Germany: Metropolis.

2015

  • McCracken, S. (2015). "2 Variables; 1 Constant": New Developments in the Application of PPSA Default Priority Rules. 32nd Annual Conference of the Banking & Financial Services Law Association (BFSLA) 2015, Brisbane, Qld: Presentation.
  • McCracken, S. (2015). "If I were going there, sure I wouldn't be starting from here": a case study on the importance of legal infrastructure for the exercise of a remedy. 9th Remedies Discussion Forum 2015: University Paris-Dauphine, Washington & Lee University School of Law, University of Windsor Faculty of Law, Emory University School of Law, Sydney Law School, University of Louisville’s Louis D Brandeis School of Law, Paris, France: Presentation.
  • McCracken, S., Griffiths, S. (2015). Making Banking and Finance Law: A Snapshot. Sydney: Ross Parsons Centre of Commercial, Corporate and Taxation Law.
  • McCracken, S. (2015). Marshalling: A Case Study in Complexity. In Russell L. Weaver, Francois Lichere (Eds.), Remedies and Property: Volume 2, (pp. 99-114). Marseille: Presses Universitaires d'Aix-Marseille.
  • McCracken, S. (2015). Personal Property Securities. In Ray Finkelstein, David Hamer (Eds.), LexisNexis Concise Australian Legal Dictionary - 5th Edition. (pp. 473). Australia: LexisNexis.
  • Loxton, D., McCracken, S. (2015). PPSA Models: Easy as ABCD? 3rd Annual Colloquium of the Academic Committee of the Banking and Financial Services Law Association (BFSLA) 2015 - Finance Law: Global and Regional Challenges, Sydney, NSW: Presentation.
  • McCracken, S. (2015). Security Interests: Crossing the Rubicon. In Sheelagh McCracken, Shelley Griffiths (Eds.), Making Banking and Finance Law: A Snapshot, (pp. 93-115). Sydney: Ross Parsons Centre of Commercial, Corporate and Taxation Law.
  • McCracken, S., Stumbles, J., Sellars, A. (2015). Security Interests: Draft Model Law on Secured Transactions and Australia. UNCITRAL Australia Seminar: Co-Hosted by the Commonwealth Attorney-General's Department, the UNCITRAL National Coordination Committee for Australia, and the UNCITRAL Regional Centre for Asia and the Pacific, Canberra, ACT: Presentation.
  • Decker, F., McCracken, S. (2015). Security, Commercial Transactions. In James D. Wright (Eds.), International Encyclopedia of the Social & Behavioral Sciences - 2nd Edition. (pp. 400-406). United States: Elsevier Inc.
  • McCracken, S., Stumbles, J., Tolhurst, G. (2015). Title Transfer Collateral Arrangements under the Personal Property Securities Act 2009 (Cth): Paper I Setting the Scene. Journal of Contract Law, 33(1), 1-19.
  • McCracken, S., Stumbles, J., Tolhurst, G. (2015). Title Transfer Collateral Arrangements under the Personal Property Securities Act 2009 (Cth): Paper II Arrangements as Security Interests. Journal of Contract Law, 33(1), 20-43.
  • McCracken, S., Stumbles, J., Tolhurst, G. (2015). Title Transfer Collateral Arrangements under the Personal Property Securities Act 2009 (Cth): Paper III Exclusions and Consequences. Journal of Contract Law, 33(1), 44-64.
  • McCracken, S., Stumbles, J., Tolhurst, G. (2015). Title Transfer Collateral Arrangements under the Personal Property Securities Act 2009 (Cth): Paper IV Securities as Collateral. Journal of Contract Law, 33(1), 65-87.

2014

  • McCracken, S. (2014). Construing the Personal Property Securities Act 2009 (Cth): interpretation or interpolation? Commercial Law Quarterly, 27(4), 3-10.
  • Griffiths, S., McCracken, S., Wardrop, A. (2014). Exploring Tensions in Finance Law. In S. Griffiths, S. McCracken, A. Wardrop (Eds.), Exploring Tensions in Finance Law: Trans-Tasman Insights, (pp. 1-10). Wellington, New Zealand: Thomson Reuters.
  • Griffiths, S., McCracken, S., Wardrop, A. (2014). Exploring Tensions in Finance Law: Trans-Tasman Insights. Wellington, New Zealand: Thomson Reuters.
  • McCracken, S. (2014). Marshalling: a topical case study in exploring complexity of property remedies. Property Remedies Forum 2014 - Hosted by: University of Aix-Marseille Faculty of Law; Emory University School of Law; Sydney Law School; Washington & Lee University School of Law; University of Louisvilles Louis D. Brandeis School of Law, Aix-en-Provence, France: Presentation.
  • McCracken, S., Stumbles, J., Tolhurst, G. (2014). Ostensible Ownership: An Outmoded Concept in a Secured Transactions Regime? Annual Colloquium of the Academic Committee of the Banking & Financial Services Law Association (BFSLA) 2014, Sydney, NSW: Presentation.
  • McCracken, S. (2014). Personal Property Securities Legislation: Analysing the New Lexicon. Adelaide Law Review, 35(1), 71-95.
  • McCracken, S., Stumbles, J., Tolhurst, G. (2014). Personal Property Securities: Views from the City. Specialist Roundtable - November 2014, Sydney, NSW: Presentation.
  • Hill, J., Cooper, G., Dirkis, M., McCracken, S., Stumbles, J., Tolhurst, G., Vann, R. (2014). Regulation and Reforms to Enhance Financial Stability in the Post-GFC Era - Report for the Centre for International Finance and Regulation (CIFR).
  • McCracken, S., Stumbles, J., Tolhurst, G. (2014), Submission to the Review of the Personal Property Securities Act 2009: Consultation Paper No 1.
  • McCracken, S. (2014), Submission to the Review of the Personal Property Securities Act 2009: Consultation Paper No 2.
  • McCracken, S. (2014). The Personal Property Security Interest: Identifying Some Essential Attributes. In Ann Wardrop (Eds.), Banking and Finance: Perspectives on Law and Regulation, (pp. 146-170). Sydney, Australia: Federation Press.
  • McCracken, S., Stumbles, J., Tolhurst, G. (2014). Title Transfer Collateralisation Arrangements as Secured Transactions. Specialist Roundtable - July 2014, Sydney, NSW: Presentation.
  • McCracken, S. (2014), United Nations Commission on International Trade Law, Working Group VI (Security Interests) 26th Session, Vienna Austria, 8-12 December 2014: Observer on behalf of LAWASIA.
  • McCracken, S. (2014). When is a "Buyer" a "Buyer"? Solving Riddles When New Legislation Confronts Established Concepts. In S. Griffiths, S. McCracken, A. Wardrop (Eds.), Exploring Tensions in Finance Law: Trans-Tasman Insights, (pp. 175-197). Wellington, New Zealand: Thomson Reuters.
  • McCracken, S. (2014). When is a "buyer", a "buyer"? Solving riddles when new legislation confronts established concepts. Banking & Financial Services Law Association Academic Committee Workshop 2014: Exploring Tensions in Finance Law, Sydney, NSW: Presentation.
  • McCracken, S. (2014). When Law and Commerce Fall Temporarily Out of Step: An Australian Case Study on Secured Transactions. Sydney Law School - National University of Singapore Symposium 2014, Sydney, NSW: Presentation.

2013

  • McCracken, S. (2013). Analysing the New Lexicon. Personal Property Security Law: Local and Global Perspectives Sympoium 2014, Adelaide, SA: Presentation.
  • McCracken, S. (2013). Book Review: Australian Personal Property Securities Law by Anthony Duggan and David Brown LexisNexis Butterworths, 2012 xxxvii + 371 pp ISBN 978 0 409330 32 8. Adelaide Law Review, 34(2), 473-475.
  • McCracken, S., Bird, J., Stumbles, J., Tolhurst, G. (2013). Everett and McCrackens Banking and Financial Institutions Law - 8th Edition. Sydney, Australia: Thomson Lawbook Co. (Thompson Reuters).
  • McCracken, S. (2013). Security Within the Scope of the Personal Property Securities Act 2009 (Cth) (PPSA). In Sheelagh McCracken, Joanna Bird, John Stumbles, Greg Tolhurst (Eds.), Everett and McCrackens Banking and Financial Institutions Law - 8th Edition, (pp. 487-540). Sydney, Australia: Thomson Lawbook Co. (Thompson Reuters).

2012

  • McCracken, S., Boxall, A. (2012). Guarantees and Indemnities. Halsbury's Laws of Australia - Fifth Edition. Australia: LexisNexis.

2011

  • McCracken, S. (2011). Conceptualising the Rights of a Lessee under the Personal Property Securities Regime: the Challenge of 'New Learning' for Australian Lawyers. University of New South Wales Law Journal, 34(2), 547-566.
  • Jones, A., McCracken, S. (2011). Crossing the boundary between finance and law: The collaborative problematisation of professional learning in a postgraduate classroom. In C Candlin and S Sarangi (Eds.), Handbook of Communication in Organisations and Professions, (pp. 499-518). Berlin: De Gruyter Mouton.
  • McCracken, S. (2011). Getting to grips with the reforms to Personal Property Securities Law. Commercial Law Quarterly, 25(3), 3-11.

2010

  • McCracken, S. (2010). Combination of accounts: a contrast in banker-customer expectations. Butterworths Corporation Law Bulletin, 25.
  • McCracken, S. (2010). Personal Property Securities. In Peter Butt, D. Hamer (Eds.), LexisNexis Concise Australian Legal Dictionary - 4th Edition. Australia: LexisNexis.
  • McCracken, S. (2010). The Bankers Remedy of Set-Off - 3rd Edition. Haywards Heath, West Sussex: Bloomsbury Professional.

2009

  • McCracken, S., Everett, A. (2009). Everett & McCracken's Banking and Financial Institutions Law (7th edition). Sydney: Lawbook Co.

2007

  • Jones, A., McCracken, S. (2007). Teaching the discourse of legal risk to finance professionals: foundations for a linguistically scaffolded curriculum. In Robert Wilkinson, Vera Zegers (Eds.), Researching Content and Language Integration in Higher Education, (pp. 122-136). The Netherlands: Maastricht University.

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