In the matter of BIS Finance Pty Limited; In the matter of Artsonig Pty Limited [2018] NSWSC 3

Supreme Court New South Wales

Medium Neutral Citation: In the matter of BIS Finance Pty Limited; In the matter of Artsonig Pty Limited [2018] NSWSC 3 Hearing dates: 15 December 2017 Decision date: 08 January 2018 Jurisdiction: Equity - Corporations List Before: Black J Decision: The Court approves the creditors' schemes of arrangement pursuant to s 411(4)(b) of the Corporations Act 2001 (Cth). Catchwords: CORPORATIONS — Scheme of arrangement — Application for approval – where two interdependent creditors' schemes proposed to effect broader restructuring — where schemes provide for debt-to-equity swap, standstill period and variation of loan documentation. Legislation Cited: - Corporations Act 2001 (Cth), Ch 6, s 411 - Securities Act 1933 (US), s 3(a)(10) Cases Cited: - Fiducian Portfolio Services Ltd v Fiducian Investment Management Services Ltd (No 2) [2015] FCA 95; (2015) 228 FCR 587 - Re Atlantic Gold NL (No 2) [2014] FCA 869 - Re Atlassian Corporation Pty Ltd [2013] FCA 1451 - Re BIS Finance Pty Ltd [2017] NSWSC 1713 - Re Boart Longyear (No 2) [2017] NSWSC 1105 (2017) 323 FLR 241; 122 ACSR 437 - Re Centro Properties Ltd (in its capacity as responsible entity of Centro Property Trust) [2011] NSWSC 1465; (2011) 86 ACSR 584 - Re Challenge Bank Ltd (1995) 19 ACSR 421 - Re Nine Entertainment Group Ltd (No 2) [2013] FCA 40 - Re Permanent Trustee Co Ltd [2002] NSWSC 1177; (2002) 43 ACSR 601 - Re Recall Holdings Ltd (No 2) [2016] FCA 419 - Re Seven Network Ltd (No 3) [2010] FCA 400; (2010) 267 ALR 583; 77 ACSR 701 Category: Procedural and other rulings Parties: Proceedings 2017/333466 BIS Finance Pty Limited (Plaintiff)