so the guy loses a mill in shares...750k his own and 250k from borrowed money. this is because the shares were signed over (most likely unknowingly) to Opes for security on the margin loan. Question...the good people at ANZ will now take all the shares off this bloke as they are technically owned by opes but will they at least be good enough to let him keep the 250K of debt which no doubt is in his own name ??
Whilst this guy is an unsecured creditor the banks will be secured and therefore get first pickings. So can they also go this bloke the 250K cash as well and then leave him to fight Opes for his shares and the 250k cash ??
this would be double dipping by the banks as they will already get the shares the lon bought but I still wonder if they can get away with it as opes owned the shares and the opes customer owns the debt to opes
PRE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
