The court found that a Chinese framework agreement does not amount to a binding contract, in the natural meaning of the word. If found to have breached director's duties, Forrest faced the possibility of being banned as a director of an ASIC-listed company. FMG appealed against the decision, and in October 2012, the High Court found in favour of FMG and Forrest, reversing the decision of the full bench of the Federal Court and agreeing with the original 2009 decision by Justice Gilmour.