opes anz trial, page-20

A. Liquidation allows us to see what ANZ has swept under the carpet. Liquidator can publically examine all ANZ records and ANZ officers role in this debacle. Liquidation allows FH to overturn the ANZ and Merrill preferences. We need the discovery from liquidation to prove once and for all, ANZs knowledge of the M+D fraud that was Opes.

B. DOCA allows ANZ to get out cheaply, as it prevents the above discovery by the liquidator. DOCA is messy and it would take FH years to finalise all claims on the DOCA pool. FH performance to date would suggest a long drawn out process. ANZ has also lodged a countercalim on OP, which makes any dividend payout from a DOCA unlikely until any legal counter claims concluded. Add more years.

C. IMO commercial Litigation against ANZ et al has sufficient evidence to date to prove beyond reasonable doubt that ANZ knew about the M+D fraud that was Opes, for many years, and let it continue regardless.

IMO, A and C route is quicker and cleaner, with a better outcome for Opes clients than B and C route. Therefore, unless the mediation offer is 100c plus interest, using a 27 Mar valuation date, do not vote for it. Better to get this thing into liquidation asap and stop flapping around going nowhere on an ANZ agenda.

Time to get this out of ANZ hands once and for all, and drive the agenda as Opes clients. So let's put it into liquidation at the next creditors meeting. If FH asks creditors for another extension for mediation, vote against it.