ASIC v ISX Hearing, page-144

.

Hi Everyone

Day 3 Hearing Summary

Today's action started with isx kc finishing off his opening session from yesterday for just shy of 1.5 hrs.

Isx kc first up issue was to discuss the Clayton Utz two reports (initial & supplementary reports) - had isx been complying with listing and disclosure rules. He then went on to give details of asx concerns after the initial report was released, and how the asx then corresponded with clayton utz asking for more details on specifics on certain aspects of the report, mainly the Visa termination issue and the crucial dates applicable to a disclosue to the market by isx. All this discussion by isx kc was to provide the relevant facts to the court. More discussion to follow between the two parties at a later date on the issue.

Isx kc then went on to discuss both the isx & asic independant expert reports on the possible impact of the visa termination timing announcement to market and the possible impact on the valuation of isx shares from that announcement to the market would have had.

The isx kc went on to discuss Visa's reasons for the termination based on asic reasons stated in the soc. All points discussed.

Lots of other bits and pieces also touch upon by isx kc.


To wrap up the opening 2 days addresses by both parties, the asic kc added his take on isx kc talk, and to point out other issues that needed clarification by the court and what asic intend to prove against JK and isx moving forward.

Then asic kc, questioned a asic senior lawyer after swearing in the witness. Questioned him about his affidavit to the court. Basically just confirming what was in his affidavit. About 10 min total.


Tomorrow they will be swearing in and questioning Mr Hart & Mr Minehane from isx.

Hearing finished for the day at 12.10

Until tomorrow, Cheers

.