In CBP Centre Pty Ltd v VentureCrowd Pty Ltd [2024] QSC 139, the Supreme Court of Queensland considered a dispute involving a buy-back agreement for shares. CBP Centre (the applicant) had sold 5,344,843 shares to VentureCrowd Holdings (the respondent) for $2,431,903.57. The central issue revolved around the interpretation of the "Completion Date" for payment, as defined in their Buy-Back Agreement. CBP argued payment was due upon the transfer of shares, whereas VentureCrowd contended their obligation was tied to a Completion Date, which they claimed had not yet occurred. The court found in favor of CBP, determining that the primary intent of the contract mandated the payment of the transfer price upon the transfer of shares. Consequently, judgment was given for CBP Centre for the owed sum plus pre-judgment interest from 27 February 2023.
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