If the time frame for lodging a defence is 28 days then it appears that ASX may have missed the boat.
There was a post by @ChillingOut in another thread that stated ............... Until a Defence has been filed by the ASX, it's a little premature to jump to conclusions. Let's see what the ASX puts in issue. The orders being sought at paras D, F, and G on pages 23 and 24 of the SOC deal with the lifting of the suspension and the reinstatement for quotation. It would be superfluous for a Court to make those orders (or indeed for ISX to seek them) if ISX shares are reinstated in the interim, that is, between now and a final determination. ………………... The declarations sought (paras A, B, C, and E) are somewhat of a precursor in that they will need to be made good before the orders sought can be made or any award of damages can be calculated and a judgment given in that sum.
Would a potential tactic of ASX be to release the suspension a couple of days before the hearing and then cite the (more than likely) ensuing volatility as part of their reasoning for keeping ISX in suspension for so long ???
ISX Price at posting:
$1.07 Sentiment: Hold Disclosure: Held
