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07:59
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Originally posted by goforit99:
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I doubt that ISX want to continue their listing on the ASX. It appears that the only chance the ASX have of winning the ISX vs ASX case is based on the “absolute discretion” rule where they can suspend a listed company for whatever reason they feel like, as the ASX have no factual evidence that supports their protracted suspension of ISX. ASIC and other regulatory bodies appear to support the ASX in their monopolistic position and “all sweeping” rules even when the ASX step outside their investigative powers to become court and judge. If ISX were to continue their listing on the ASX, the ASX could just suspend them again for whatever reason they feel like and they probably would, given the obvious competition between ISX, NSX and the ASX. It would be an anxious time for ISX and its shareholders waiting to see if and when ASX suspend them again. It appears the ASX know that currently no regulatory body will stand in their way to stop them doing as they please. It would be far better for ISX to list on a more sophisticated premium exchange in the EU or UK where they already have banking approvals and where their main customers reside.
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But if we win the case and are awarded damages, do you think ASX will suspend us again for no reason knowing that we could take them to the federal court again. If ASX lose this will show that all listed companies have an option in taking the ASX to the federal court...lets see how this plays out.
