Thanks Chris. Having shares returned is probably the least likely outcome but one could not rule it out. Imagine the impetus for small/mid caps if it is was forced on ANZ to buy them all back. Their $720m exposure will grow exponentially and go down as the worst "short" in Aust financial history.
I reckon ANZ will try and settle via a Scheme of Company Arrangement, whereby ANZ agrees with the Administrators and Opes Clients to be part of the unsecured pool, the latter agreeing to forgo further legal claim. I can't see it returning more than 50-60c and I don't think most Opes clients will accept that anyway with the evdience that is coming out.
The growing possibity is damages for lost positions. This outcome grows stronger by the day.
immeasurable blow to anz reputation, page-15
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Last
$30.67 |
Change
0.280(0.92%) |
Mkt cap ! $91.40B | |||
| Open | High | Low | Value | Volume |
| $30.52 | $30.72 | $30.41 | $45.56M | 1.489M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 3638 | $30.66 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $30.67 | 1488 | 6 |
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| Last trade - 14.37pm 14/10/2024 (20 minute delay) ? |
| ANZ (ASX) Chart |