anz finds another way to damage opes, page-15

Think about it logicaly

They are in the "Hands of their Bankers" on or around Black Tuesday..

They are already confessing to ASX a little later

The directors cant "Direct" because every dollar is gone and they rely on advances from ANZ to continue as a going concern

At some point the Bank assumes the "Effective Role" of the Directors

The Directors are no longer capable of effecting decisions..they need to engage every decision with the lender

Stepping over that line ..you assume the responsibility and possible liablity that accrues to a director..inc insolvent Trading

Jump into Corps Act ..pretty specific..
We followed a case ..on a failed resource company couple of years ago..