It's likely that OP Fiduciary will get its funds. You'd imagine at the time of offering the plan, Openpay settled the merchant. So any cash coming in from customers can be used to settle OP Fiduciary. 1. Debtors reduce as cash comes in from customers 2. Loans decrease as OP Fiduciary is repaid
Overall debtors and loans will decrease by ceasing trading and repaying creditors.
The issue is the damage done to Openpay’s brand and can it find another financier to bring it back to life or will they sell the group to an established player or worst case liquidate leaving some secured creditors with less than 100 cents in the dollar.
OPY Price at posting:
19.5¢ Sentiment: None Disclosure: Held
