Ann: Commences Federal Court Action against ASX, page-2442

FYI the last court case was for SOR and ISX's attempt to suppress it...

If the ASX has to request court orders or ASIC's direction for every suspension then the ASX would be rendered absolutely powerless. Technically, every company listed would be able to prevent or at least delay every suspension attempt by the ASX regardless. Companies also would take their chances of not complying to any listing rules and may even get away with it. If that encapsulates what ISX main argument is then I would be right in that ISX is never expecting to win and merely in court to delay.

There is a maximum of 2 to 3 years before automatic delisting. ISX has already burnt more than 6 months now ...