Item 1: ASX seeking to strike off quotes ISX extracted from the ASX/ASIC meeting memos on the basis they were "evidence" and not "facts".
Both parties put forward their arguments over and over; I think both arguments were reasonable.
ASX's main argument was that the meeting memos were handwritten and not "official' transcripts and should not be included as facts in the pleading if ISX plans to rely on them as their evidence in the trial.
ISX argued that it wasn't just an internal ASX meeting; this was an important meeting between two regulators the day before the suspension and was said in the meeting is critical to understanding whether ASX acted in good faith or not, which is what the whole lawsuit is about. ISX also argued ASX needs to admit whether those things were said or not, in order for the case to progress faster.
Her Honour finally stated that at this juncture, each party should be clear on what the other party planned to rely on in their defence; it was clear to ASX that ISX was planning to rely on the meeting memos, but it was still unclear what ASX was planning to rely on. Irrespective of how these things are stated in the claims, at some point, ASX will have to admit if the memos could be taken as an accurate representation of what was said or not. So that was dismissed. ISX also argued for some costs but I think that was dismissed as being insignificant (not too sure as I was distracted).
Item 2: Security of costs Not much was said about this; ISX seemed to agree on the condition a date be changed from (I think) 4 March to 31 March. ASX didn't object.
ISX Price at posting:
$1.07 Sentiment: Buy Disclosure: Held
