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Ann: Commences Federal Court Action against ASX, page-905

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sbuck

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09/01/20

19:55

Post #: 42308707
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Originally posted by gattertop: ↑

The correspondence from the ASX only said they ‘anticipated’ providing the draft report by the 6th. That is not a definitive commitment. As the statement of claim demonstrates, ISX were already concerned that they were being denied procedural fairness. In my opinion, the extracts of communication presented in the statement of claim demonstrate a lack of transparency and openness from the ASX. I suspect ISX simply came to the conclusion that they could not trust the ASX to deliver the report on the 6th and probably decided it was time to bring things to a head. After all, as the statement of claim demonstrates, they already felt they had an actionable claim.

As to the whereabouts of the draft report. As soon as the statement of claim was lodged I suspect any activities of the ASX that concerned ISX would be screened by their lawyers. I can’t imagine for a second that their lawyers would allow the report to be sent until they got their head around the ISX claims and the strength or otherwise of the ASX defence.

Another 4 weeks has passed and there has been nothing from ISX announcing receipt of a draft report. So it seems reasonable to assume that it hasn’t been provided (IMO). That leaves me wondering why? I suspect ASX’s lawyers believe they are in deep doo-doo on the procedural fairness claim and are trying frantically to craft a face saving settlement.

All in my opinion. Looking forward to the case progressing.

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I really enjoy reading your considered responses gattertop. thanks for contributing to the discussion.

ISX Price at posting: $1.07 Sentiment: Buy Disclosure: Held
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Ann: Commences Federal Court Action against ASX, page-905

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