In the matter of Bizpay Group Limited [2024] NSWSC 1480

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Bizpay Group Limited [2024] NSWSC 1480 Hearing dates: 11 November 2024 Date of orders: 11 November 2024 Decision date: 11 November 2024 Jurisdiction: Equity - Corporations List Before: Black J Decision: Plaintiffs granted leave under s 444GA of the Corporations Act 2001 (Cth) to transfer shares in the company and associated orders made. Catchwords: CORPORATIONS — Voluntary administration — Deed of company arrangement — Application under s 444GA of the Corporations Act 2001 (Cth) for leave to transfer shares pursuant to DOCA — Whether residual equity in company — Whether shareholders unfairly prejudiced — where shareholder(s) have foreshadowed potential claims — Where shareholder(s) have delayed in bringing any application to set aside deed of company arrangement. Legislation Cited: - Corporations Act 2001 (Cth), ss 444GA, 562 - Supreme Court (Corporations) Rules 1999 (NSW), r 2.13 Cases Cited: - Cussen, Re Big Un Ltd [2019] FCA 1162 - Re Centennial Mining Ltd, (subject to deed of company arrangement); Ex Parte Tucker [2019] WASC 441 - Re Infinite Water Holdings Ltd (subject to deed of company arrangement) [2024] NSWSC 1096 - Re Kupang Resources Ltd (subject to deed of company arrangement) (recs and mgrs apptd) [2016] NSWSC 1895 - Re Mirabela Nickel Ltd (subject to deed of company arrangement) [2014] NSWSC 836 - Re Nexus Energy Ltd (subject to deed of company arrangement) [2014] NSWSC 1910 - Re Openpay Group Ltd (recs and mgrs apptd) (subject to a DOCA) [2024] NSWSC 789 - Shephard, Re Quest Minerals Ltd v Mutual Holdings Pty Ltd [2016] FCA 1559 - Re Ten Network Holdings Ltd (subject to a deed of company arrangement) (recs and mgrs apptd) [2017] NSWSC 1529 - Tucker, Re Black Oak Minerals Ltd (subject to deed of company arrangement) (in liq) [2019] FCA 293 Category: Principal judgment Parties: Jonathon Sherwood Keenan and Peter Paul Krejci as joint and several deed administrators of Bizpay Group Limited (Receivers and Managers Appointed) (Subject to Deed of Company Arrangement) (First Plaintiffs) Bizpay Group Limited (Receivers and Managers Appointed) (Subject to Deed of Company Arrangement) (Second Plaintiff) Representation: Counsel: M L Rose (Plaintiffs) S Rubenstein (Interested Party)