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$1.07 southern cross payments ltd

What does his mean for us?

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agmf2004

61 Posts.

32

21/06/22

08:15

Post #: 62104329
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Originally posted by itzgr82balive: ↑

Court today: SP1 (ISX) vs ASX. The judge has ordered ISX to pay security of costs of $2,690 m into the court by 25th July.

The judge originally ordered it to be paid by 11th of July,2022 by cash or guarantee from an Australian bank, proceedings to be stayed until the payment received and for ISX to pay ASX's costs for the application.

HWL (for ISX) asked for $1 million by the end of the week) and the remainder by the end of July. Mintz(ASX) objected stating ASX would not allow the case to proceed if the entire amount was not provided.

The registrar told HWL that there was no way that she would let the matter proceed without the security for costs paid in full and HWL reminded the registrar that not only was there no trial judge appointed yet for the proceedings but there is no court schedule for the matters. The registrar then changed the timeframe to 25th July.

I am disappointed, although not surprised at the decision.

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What does his mean for us?

SP1 Price at posting: $1.07 Sentiment: None Disclosure: Held
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