SP1 (ASX) Round 2 ISX vs ASX

Originally posted by goforit99: ↑

Now that JusticeDavies of the Federal Court is allowing ISX to pursue the ASX in a criminaloffence, i.e. misleading and deceptive conduct by the ASX under s1041H of theCorporations Act, what are the consequences to the ASX if ISX win their claimas well as adding on at least $27 million in damages?
The ASIC arethe party to bring the quickest resolution to the ASX suspension of ISX as I believeASIC will see in favour of ASIC being the governing body” of ISX (see ISXrequest as of the 29th January 2020, the Company requested ASIC to interveneunder Corporations Regulation 7.2.16). Of course if the ASIC decide to be thegoverning body of ISX then one would assume that the ASIC have cleared the performanceshares and have no further issues with ISX. This then will give the ASX no evidenceto back up their suspension of ISX; I believe the ASX will then seek to reachan “out of court” settlement with ISX ASAP.
JusticeDavies of the Federal Court wants the matter between ISX and ASX resolved ASAP.In the last court hearing on the 28^th July 2020 Justice Davies sawno reason to disallow ISX to pursue ASX in a criminal offence, i.e. misleadingand deceptive conduct by the ASX under s1041H of the Corporations Act and allowISX to sue for damages. The ASX were wanting “more or better particulars”however as Justice Davies suggested that ISX should provide them she did notexpect ISX to admit all their evidence as that would be submitted in the trial.Justice Davies then said that if on the 11^th August the ASX wouldnot agree to consent to the filing of the ISX Second Further Amended Statementof Claim then she would preside between the parties to find a resolution andallow ISX to file the Second Further Amended Claim.

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Originally posted by bgtaylo: ↑

ASX could be under investigation now by ASIC.
We don’t know.
What we do know is that ISX and many others have lodged complaints to multiple regulators, including ASIC.
Following the outcome of the court case may prompt regulators to make their move.
ASX wouldn’t know if they were being investigated.

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The suspension was done by the ASX in consultation with ASIC...

ASIC expressed its concerns towards ISX's books and records.

ASIC advised the ASX that it was considering launching a formal investigation into ISX's compliance with its disclosure obligations under the corporation act.

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Round 2 ISX vs ASX, page-217

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Round 2 ISX vs ASX, page-217

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