The newly named Southern Cross Payments has left the Federal Court order unfilled for a month.
has long lamented the 10,000 pensioners, mums, dads and young couples who he reckons were “disenfranchised” by the Australian Securities Exchange when it suspended his company from trade in October 2019.So what should they make of the company’s latest misadventures? Southern Cross Payments Ltd, the recently renamed remainder of iSignthis, waslast week, this time because it failed to pay its annual listing fees.
The ASX appears confident in its legal defence against iSignthis, as it last month applied for a court order that requires Southern Cross Payments to cough up $2.69 million as a bond to pay the ASX’s legal costs should it prevail in the action. At June 30, Southern Cross had $3.1 million in cash and, since the first half of fiscal 2021, has spent $4.5 million on legal and advisory costs. Karantzis recently told us ISX Financial EU had €5.5 million in cash but also said the question of whether the bond will be paid should be directed to Southern Cross .
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