SP1 southern cross payments ltd

Does the ASX have any option but fight in court?, page-46

  1. 6,681 Posts.
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    Clayton Utz did not touch on the four key contracts at all. Not only that the aspect wasn't part of the ASX's direction, but it also wasn't part of the agreed scope. Now, obviously ISX had the choice to incorporate the aspect into the agreed scope, but the fact is it had chosen not to do that. I question the intention behind your lies @IsoscelesDancer, I am blatantly calling out your statement as lies because I have hard proof that the statements are lies, in fact, not just me has access to the proof, but literally everyone could go on MAP (Market Announcement Platform) and prove it to themselves.

    On the topic of VISA, ISX had withheld all of the correspondence between it and VISA from the independent experts as proven by ISX's own court submission. Instead it gave reassurance to Clayton Utz that it had sought legal advice that the suspension by VISA had been invalid. Even to this day, ISX has been refusing to show to the ASX the legal advice that it had allegedly sought.

    Clayton Utz (CU) wasn't an auditor, and its role never went beyond that of a professional hired help, paid for and directed by ISX as its client. CU had no power, no authority at all to compel ISX to produce any material that it was less than forthcoming with. As a hired professional, CU had to act in good faith, effectively compelling them believe in everything that ISX had said and suggested. As a result, it had formulated its opinions solely based on ISX's views on thing and the report is a direct reflection of this. So does that mean that the report is useless? In terms of exonerating ISX the answer is yes. The report, however, isn't completely useless when viewed from another perspective that implicates ISX. Some of the things outlined in the report directly contradicts a lot of the things that ISX have been saying or even claiming. For example, we know for a fact based on the report that ISX has the view that it is extremely difficult to near impossible to forecast a revenue to be generated from a signed commercial contract. By extension of that view, it means that it would be impossible for ISX to forecast a revenue to be generated from an early negotiation or unenforceable agreement, yet conveniently ISX has allegedly been able to forecast, to the nearest cents, the value of the "opportunities" that it has allegedly lost and subsequently claimed as damages as per outlined by its SOC. The report also outlined how ISX hasn't signed a single commercial contract since the four key contracts.
 
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