In The Bell Group Ltd (in liq) v Westpac Banking Corporation [No 9] [2008] WASC 239 (discussed here) the Western Australian Supreme Court decided that the banks were successful in their defences against claims of fraud and knowingly assisting a breach of directors' duties but that the banks had received trust property knowing that it arose from a breach of the directors' fiduciary duties.

Now, in The Bell Group Ltd (in liq) -v- Westpac Banking Corporation [no 10] [2009] WASC 107 the Court has ordered that the defendant banks pay various amounts and interest totalling over $1.5 billion back to Bell Group companies while at the same time allowing the Banks to lodge proofs of debt.