anz getting its karma from destroying opes , page-8

I'm not exactly sure how banks work, but I would have thought that all the Opes court cases would be a huge distraction to ANZ during this tricky period of global uncertaintly.

I'm only guessing here but I would have thought that the discovery process and the resultant affidavits lodged in the Suprement Court would most likely demonstrate some level of incompetence (or worse) by very senior bank officers and this is not such a good look when you are passing the hat around major investment institutions, and the government for billions in cash.

I also think that the US fishing expedition by Vianale's would be significantly strengthened if all sorts of stuff started coming out in court.

Then there is the reputations of the people at the negotiation table. If this round of mediation fails then they will all look very bad.

I also think that judges would be annoyed if there was a sense of continuing game-playing and obstinacy if a situation arose where there was overwhelming evidence that something was amiss with the security the financial instutions claim to have had over our shares.

All in all, many reasons to settle but this is by no means a certainly.