The two-and-a-half month courtroom battle over the the spectacular collapse of steel maker Arrium has wrapped up and the parties are waiting on Justice Michael Ball to determine the fate of the remaining plaintiffs and defendants.

The saga has seen two settlements, the first with former Arrium treasury employee Sarah Pearce, a defendant in one of the three proceedings, after she was cross-examined in mid-March, and another, more significantly, in early May when Arrium’s liquidators, KordaMentha, settled their action against 10 of the company’s former directors over trading while insolvent.