As always, I have enjoyed the hiatus and think it's best to exercise discretion at this stage. After two years of gratis legal advice, support of ISX, and questioning of some matters, it appears that a few parochial people did not take kindly to objectivity, but that's a matter for them. Regrettably, it soured what has been a reasonably enjoyable dialogue. One can engage in an ongoing volley of HotCopper posts, but I'm reminded of the story of the Tiger, the Lion, and the Donkey.
That all said, I can see that many have interpreted the settling of the freezing order proceedings (VID580/2021) as somehow translating into a resolution of the ATO proceedings in toto (Fed. Court VID387/2021 - earlier consolidated with AAT matters: 4867, 4868, and 4869/2021 per Orders of Middleton J on 7.10.21). It appears the latter group of proceedings (VID387/2021) have not settled and are still on foot, albeit it is open to the Applicant (Karantzis) to file a Notice of Discontinuance at any stage if satisfied with the Commissioner's initial assessment. Otherwise, a case management hearing is listed for 13 May. The parties may be able to resolve those proceedings prior to that date, but that will depend upon their relative attitudes to the issues to be decided.
It is not unusual to arrive at a settlement in respect of a freezing order, particularly where an individual is seeking to carry on a business and may need the monies to further that end in order to meet obligations. An ancillary benefit is that it has spared Justice Anastassiou the duty of delivering what would no doubt have been an interesting Judgment following a four day contested hearing that raised a number of issues.
As a shareholder, I sincerely hope that ISXEU makes a good go of things. If so, then that's wonderful. If not, then it's been an unwelcome lesson for many for any number of reasons. I will continue to keep an eye on the Court proceedings with interest but I'll leave the day-to-day commentary to others. I've held no sentiment on ISX or any other shareholding I have at any time - just a philosophy I adhere to. For now, all the very best to the contributors on both sides of the ledger.
Adios amigos, muskets at dawn.
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