So there was a degree of a shock in the public gallery when the protagonist - billionaire Richard Pratt's former mistress Madison Ashton - failed to show up for the final scene yesterday.

As the Supreme Court judge Paul Brereton effectively dismissed Ms Ashton's $10 million law suit against the late cardboard baron and ordered her to pay her opponents' legal costs, she was reportedly seen leaving her apartment in Woolloomooloo.

Ms Ashton's claim was based on a series of conversations she had with Mr Pratt in late 2003 during which the pair allegedly reached a ''business agreement'' whereby she would abandon her escort business and act as his mistress whenever, and wherever he wanted.

In return, she would be given a $5 million trust for her two children, an allowance of $500,000 a year, $36,000 a year for accommodation and $30,000 a year for travel expenses.

According to Ms Ashton, Mr Pratt told her: ''I have finished with Shari [Mr Pratt's other mistress Shari-Lea Hitchcock] and I want you to be my mistress. I am here [in Sydney] usually on Tuesdays and Saturdays and I want you around in that time and I am happy to financially support you … ''

Justice Brereton found that while these conversations probably took place, they did not amount to a legally binding contract.

''… the parties did not intend to create legal relations,'' he said.

''Ordinary people in their position would not have intended that in the event that either did not fulfil their respective promises, the other could enforce the promise in a court.''

Justice Brereton also found that on separate occasions in February and November 2005 - when her relationship with Mr Pratt was effectively over - Ms Ashton accepted termination payments of $100,000 and $50,000.

The second payment came with a letter from one of Mr Pratt's advisers stating that ''any further contact and/or demands will be viewed as attempted extortion and result in legal action and/or complaints to the relevant authorities''.

Despite signing this letter, Ms Ashton claimed she had a number of phone conversations with her former lover soon after in which he promised to honour their original agreement.

The billionaire allegedly said: ''I've got some issues with ACCC and some of my directors. As soon as I have sorted those out, I will make sure that I honour my promise to you, just be a little bit patient.''

But phone records from both Ms Ashton and Ms Pratt suggest there was no such conversations between the pair at this time and Justice Brereton said that he was ''unable to accept'' that they had ever taken place.

He also noted a number of holes in Ms Ashton's written and oral evidence, such as her claim in court that she had never had a drug habit despite the fact that her affidavit clearly refers to one.