The key to the immediate problem is to stop the selling
Go to ASX website then click on market supervision & rules & from there go to complaints. At item 2 click on the complaints form & fill it out. I have said that all trades related to this matter by both ANZ & Merrills should be cancelled or reversed because they should have called in all the borrowed stock first before liquidating the longs.
I also said that if ANZ only secured their position in the last week then their is the potential for them to be reclassified as an unsecured creditor just like all the Opes clients. You could also mention that even Merrills ,if a secured creditor ,has a duty of care to the unsecured creditors which it has potentially breached by selling stock at a 30% discount to prevailing market prices
A complaint of this nature has to be tendered within 24 hrs of the trades so do it tonight or first thing in the am
Get cracking guys the more complaints the better
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- opus clients please read this urgent
opus clients please read this urgent, page-222
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