just read weekend fin review re opes, page-52

spoke to FH. They say that they are reccomending liquidation on the Wed the 15th meeting, over DOCA or handing back the company to directors.

No mention was made of how any settlement discussions have gone in any mediation process.

The tone did not sound positive though, but they geniuninely told me that they did not know what any outcome from these mediation talks is and they are being very tight lipped about it internally. ie only senior parties to the discussions actually know.

I suppose that is not that worrying in the context that it is market sensitive and such information could possibly be leaked to the media

However, the fact that they were very quick to say that they would be recommending liquidation was a little worrying. This may of course be the recomendation in the absence of an offer of settlement by the ANZ.

In the event of a liquidation I do not believe that anyone will be better off. Does anyone know many people that would vote for this....?

We will wait and see but my portfolio has halved in this time and I am so peeved off about this date for netting off. We have basically been exposed to significant market risk in one of the biggest down turns of all time without even knowing it. I did not want to incriminate myself by accepting and acknowleging a contract that I believed was misleading and deceptive, and although I demanded my shares back and agreed to pay off outstanding debt, I refused to acknowledge the bullsh!t contract.

The floodgates of litigation will be opened if there is no settlement, me included.