ASIC Commences Proceedings Against ISX and JK, page-1685

I would imagine that the request by ISX for discovery of materials from VISA would include documents that support that VISA was going in a different direction and that with those changes, VISA would not allow ISX to remain at their then-current tier 1 level. These documents could conceivably contain competitive information that VISA does not want the world to see since they are currently defending anti-competitive allegations in various places around the world. The problem, if the court does allow them to be blocked, is that VISA may block exactly the information the ISX needs to prove that the "AML" excuse was just that - an excuse that allowed VISA to get rid of ISX since ISX would not move down to the tier-2 level and pay for the privilege of being there.

As far as I am concerned, VISA AU should lose their argument of confidentiality since they should not have illegally transferred over 3000 documents to VISA Australia who then at ASIC's demand transferred them to ASIC. To my knowledge, ISX does not have, nor has it ever, had a relationship with VISA AU. I am hoping that as part of the court case that we discover the nature and timeframe of the communications VISA EU/VISA AU had with ASIC and ASX concerning these documents. ASIC is hanging their case on a small number (~<10?) out of the "over 3000" documents. At the very least, the documents should be exposed to the judge, ISX, ASIC, and their legal representatives.