Two big events: ISX and Virgin

Two big events are happening today:

1) virginaustralia first meeting of creditors at about 11 AM (AEST)

2) iSignthis Ltd (ASX: ISX) vs ASX judgment in the Federal Court will be handed down at about 10 AM (AEST) – I have been following this matter for some time now, and principally relates to the ASX’s unilateral decision to suspend the shares of ISX, due to alleged listing rule violations and ASIC investigation

I will endeavour to provide updates on both.

 

Update 1: I am told that more than 1,000 people joined in on the videoconference, and 27 creditors put their hand up to join the committee of inspection (COI). This includes 3 unions, 5 airports and Velocity Rewards. Nothing much else interesting to report yet

 

Update 2: Event 2: ISX was unsuccessful with its urgent injunction application. Case link here: https://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/single/2020/2020fca0567

The ASX announcement can be found here – https://www.asx.com.au/asxpdf/20200430/pdf/44hfmwr6m44dx6.pdf

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