ASIC Commences Proceedings Against ISX and JK, page-586

I find the claims in ASIC's (the regulator/litigator's) SOC to be very reasonable and contestable in court. For instance:
The contest on the materiality and one-off nature of the contracts is reasonable to me.
That of disclosure of the Visa termination at the time ISX became aware is also reasonable to me.

Your claim about money coming in from unknown entities is unreasonable in my opinion. Even ASIC isn't bothering to contest that.

Just so you don't take my words out of context (which you usually do), by reasonable I don't mean ISX is wrong and ASIC is right; it's up to the court to carefully consider the evidence, circumstances, intent, and what a reasonable person would have done to arrive at a fair ruling.

I am not going to bother about MasterCard. Whether MC has terminated ISX's partnership or not is irrelevant to me at this time. There's a lot of damage being done by this suspension, the circumstances that led to it, and the lack of clarity around its duration. A lot of opinions are being thrown around in media, chat forums, and so on. This puts potential customers and current partners in a position where they aren't sure if it's wise to continue doing business with the company or not. And I believe MasterCard is in that position.

I don't trust Visa's statements and that's just my opinion; I understand how this works and find some of Visa's claims very hard to believe. Even if I had the information about MasterCard, I can't make investment decisions off it as the share is suspended from trading. Once the court takes a decision, if it's in ISX's favour and at that point there are still issues with MasterCard, then I'd be concerned.