I thought I read it somewhere but maybe i just assumed it. The court declared the transfer invalid. In most countries you would be required to refund the $1.2mil as the sale was voided.
Bit academic anyway as they are related parties.
This will drag on for some time. Supreme court hearing cant begin until they formally lodge within 12months.
proactive investors seminar - syd weds 2/2/11 , page-58
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