There is nothing that the ASX can do to force ISX to back down and doing so will not protect shareholders. The ASX only has the power to query, suspend and delist and in the case of ISX, it has already done the first two with only the power to delist remains to be exercised. ISX will always be free to initiate any court action against the ASX regardless of its intention for doing so. The ASX's obligation is to the market at and not just shareholders who have invested in the company based on their own decisions.
No, rather views based on facts as provided by ISX. You need to realise that the result of any investigation regardless of what it is, including a court judgement for example, is invariably a view based on available facts. So what exactly do you see that is wrong with the concept? The best that a human can ever do is to come up with views based on available facts.
