The judgement is available online.
https://www.austlii.edu.au/cgi-bin/viewdoc/au/cases/vic/VSCA/2024/176.html
In paragraph 25 it indicates that PHX had effectively conceded the main appeal (reproduced below):
25. In its written case filed prior to the hearing, Corum indicated that it did not oppose a grant of leave to appeal the orders made in respect of the Overpayment Claim and the Wrongful Distributions Claim, but contended that the appeal should be dismissed. Shortly prior to the hearing, Corum’s position changed. It informed the Court that subject to the determination of certain grounds in its notice of contention, to which we will shortly turn, it no longer ‘resisted’ any of the proposed grounds of appeal.
Seems like this should not have been such a surprise.
