Ann: Commences Federal Court Action against ASX, page-190

Although I am no legal guru, it appears that ISX is complaining that during the period of suspension that the ASX did not take into account the large amount of documents supplied by the company in response to enquiries from ASX and the proceedual fairness of the investigation.
However in their agreement with ASX it prohibits ASX from using suspension as a tool to punish the company for historical issues.
I would argue that ISX has probably missed the point of the suspension, which I believe was to protect shareholders from such volatility in the share price at the time certain allegations from third parties were circulating and that these allegations deserved a thorough investigation before allowing the share to trade again and that should fix the volatility once answers were forthcoming. ASX probably believes that the investigation has yet to provide a basis where volatility won't be an issue and that the market will be able to function in a fully informed manner.
So there argument should be that they believe the amount of information provided to the ASX is sufficient to allow the share to act in a non volitile manner and that it will trade in a fully informed market, but they have chosen to argue more on the procedure of the investigation which at best could be argued that it has delayed the ASX in being able to confidently lift the suspension.
Just my thoughts and I may be totally misreading the intent of the suspension by ASX.

Christopher