Westpac will get the lion’s share of leftover money from the sale of a handful of assets which operated under the Sargon umbrella following the collapse of the formerly Phil Kingston-run financial technology business.

More than a year after the collapse of Sargon following a loan repayment demand from China state-owned finance company Taiping Trustees, and nearly a year since proceedings got under way in the Federal Court of Australia, Justice Michael O’Bryan ruled Westpac is entitled to 65.5 per cent of retained proceeds from certain sales of assets and shares during Sargon’s liquidation.