Administrator moves to reassure Opes Prime clients Posted Sat Mar 29, 2008 9:49am AEDT Updated Sat Mar 29, 2008 10:02am AEDT
Related Story: ASIC investigates Opes Prime An administrator of the collapsed Australian stock broking firm Opes Prime says clients will not lose all of their money.
The firm has gone into receivership and is being investigated by the Australian Securities and Investments Commission (ASIC).
Clients are facing total losses of between $200 million and $300 million.
But administrator John Lindholm from Ferrier Hodgson says clients should still see some money returned.
"We expect a substantial surplus to be returned back to the stockbroking company," he said.
"That will form a pool of funds which the administrators will then be able to pay a dividend from to meet those clients shortfalls."
