“If ISX had a 'beyond remote' chance of damages ASX would be...

“If ISX had a 'beyond remote' chance of damages ASX would be forced by accounting standards to record the contingent liability in its account. ISX shareholders should be deeply concerned that it has not.”Joe just a couple of things on this constant repetition by you.

The ASX has a $13bn market capitalisation, so even a payout of $300m would be only 2.5% of their market cap hence immaterial to ASX. And ASX can probably get away with making the following broad comments from their annual report. “There are ongoing legal claims and possible claims against the Group and its subsidiaries. Contingent liabilities exist in respect of actual and potential claims.”.

But probably more importantly Joe, we have no idea of the ASX’s insurance policies, other then knowing they exist to cover their operations, including likely legal claims. If any potential payout to ISX would be covered by ASX’s insurers then the ASX has no contingent liability as this risk is covered by a 3rd party and any potential payout won’t come from the ASX or go through their future accounts. They would need to disclose nothing under the accounting standards.