According to ASIC application for the appointment of a provisional liquidator was heard by the Federal Court on 2 & 3 September 2019. The Court reserved its decision. Meaning the Judge has not immediately delivered a decision, but instead will take time to review all evidence and the law to deliver a decision at a later time, usually in a written form. Could be days, weeks, or months until we know.
Probably not a clear cut judgement. It is a more thought out decision compared to ex tempore where a judge hands down a decision of a case soon or right after a hearing. Big grey area as to the "Arms Length Transaction" in this case.
