ASIC Commences Proceedings Against ISX and JK, page-642

Look, that would be great if it could be over and done with in one go but that's not the case.

Whatever the decision is at first instance, it can be appealed to the Full Federal Court. That doesn't mean it will be, but it can be, and the decision will turn on the primary judgment and the prospects of overturning it. If it goes to the Full Federal Court (3 Judges) and a party aren't happy with that outcome, they can seek special leave to appeal to the High Court. Special leave is not easy to get and it's two High Court Justices (sometimes 3) hearing a short argument in order to decide whether the case should be heard by the Full Bench (5 or 7). That's the end of the appellate line.

Cheers