And I think the Court is going to examine what reasons and evidence
did ASX rely on to make their decision to proceed with publishing the ASX report given they were put on notice by ISX of the damage it would cause if released (which we know is estimated by ISX to be $400+ million).
ASX has a lot is riding on proving the 2018 revenue is wrong to be able to justify their subsequent actions.
Being involved in the accounting industry and knowing what is required of a (Court) Expert Report it could be difficult for ASX to provide a contrary report to the Court given the Professional Auditor stands by their 2018 audit. And importantly, to this day continues to standby their work.
Time will tell what JD determines and if she decides to accept the Auditors opinion or the ASX/OM opinions on the 2018 revenue. And whether or not the market operator has acted with due process given they operate under an Act of Parliament.
IMO we will find the Government expects that the market operator's "ultimate discretion on the listing rules" to have boundaries if investors are to continue to have confidence to invest in Australian financial markets.
