Statements produced by insolvency specialist Korda Mentha for Tricom on the company's daily financial position show that $8.9 million was drawn out of the failing Opes Prime business and delivered to Tricom in exchange for shares on February 11, the same day Opes Prime had told the ASX and ASIC that it was having difficulties.
ANZ benefited although the deal had a negative effect on Opes, which was issuing daily margin calls to Tricom as the market was falling and for Tricom it was just as bad as it was left an unsecured creditor of Opes, until it managed to buy its stock back. http://business.smh.com.au/tricom-deal-hits-hurdle-20080521-2gqa.html
Statements produced by insolvency specialist Korda Mentha for...
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