asic anz and opes, page-8

PHIL,

are you 100% sure that M&D and damages obtained through a court win will be be ruled on that basis as the highest price obtained after the 27th March plus damages?

I have spoke to some lawyers that follow this case and that is not the potentail outcome. in fact, it is a real grey area on what the court may actually decide.

M&D law is there to put the client back into their original financial position before the M&D occured. There is no doubt this is a very complex cases, but it may not be as clear cut as what you are indicating.

ANZ may just be positioning itself for negotiation. The structure is brilliant and they can deal with every creditor and claim in one foul swoop. If the structure gets through the court process, all that needs to be obtained is the 75% vote to settle all the litigation matters. There is no way now that ANZ can back out of a settlement to Opes prime creditors. If the $$$ number is not the right number to get the 75% vote in the first run, an increase in offer will ultimately get the numbers they need. The structure allows this process to occur.