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Open letter to Mr Longo regarding ASX investigation and ASIC litigation of ISX and its CEO John Karantzis, page-317

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JoeGambler

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21/08/21

18:27

Post #: 55469458
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Originally posted by ChillingOut: ↑

G'day All,

I've only ever been interested in the Court proceedings because that's where it will be decided and I've made enough noise about relevance and admissibility of evidence. As for ASIC not settling, they're seeking certain orders that are beyond the mere imposition of a financial penalty, that is, against Karantzis personally. Inherent to that order being sought, is the element of general and specific deterrence if they make good on their argument. That's possibly a large reason why they won't disappear until all the cards are laid out. If at the close of pre-trial evidence ASIC consider that the case is weak or unlikely to meet the standard of proof threshold (BOP), there's the option to seek to discontinue on any or all of the allegations. If common sense prevails, there's always the possibility of the ASX proceedings settling. Court-ordered mediation down the track will assist that, but not to the tune of $500M. As for the ATO, that's a personal matter for the CEO and any costs associated with that (win or lose) are personal and separate from any costs in the ISX matters. In fact, the ATO story has gone from hero to zero in a bit over a week. No doubt it will bubble up again but ratings season is now over and like any re-runs - a bit of interest maybe but you know all the punch lines so you start channel-surfing. A deal will be struck in time, Karantzis and the Commissioner will shake hands, and the game will re-commence. Our great Aussie Harbour Bridge working comedian was being chased for a bloody lot more than $10M and the parties managed to strike a deal but not before the ATO put the brakes on his OS travel!

Enjoy the weekend.

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"If common sense prevails, there's always the possibility of the ASX proceedings settling. "

if you were on the board of ASX and not even compelled by accounting standards to record a contingent liability with respect to a lawsuit, how is it common sense to settle that lawsuit for anything less than your costs?

ISX Price at posting: $1.07 Sentiment: None Disclosure: Not Held
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Open letter to Mr Longo regarding ASX investigation and ASIC litigation of ISX and its CEO John Karantzis, page-317

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