Well Well what a beautiful morning it is.. the sun is shining and I have just enjoyed rading the Saturday morning papers.
It is my considered view that much of what is being discussed in the press and in the ferriers letter to clients with regards to mediation and negotiated settlements is little more than a sideshow now.
Clearly ANZ will make an offer to clients and clearly it will be better than 62c in the dollar and it will provide an early and uncomplicated exit for some. I say this because I firmly believe the ball is well and truly on our side of the court and any settlement is going to need ANZ to concede to the fact that they need to provide an avenue for those who want out to get out.
For those of us who have a bit more of a stomach to fight on I dont think the fight will be too protracted and could well end with individual settlemets gagged under confidentiality.
ANZ do not want this to play out in the court for years as it is now abundantly clear that not only are their chances of mounting a defence remote but the skeletons in the closet could lead to even more damage that has not yet been contemplated.
ANZ Price at posting:
0.0¢ Sentiment: LT Sell Disclosure: Not Held
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