The next twist to this story, is Beeconswood going to start on Tuesday?
Reading all the press this weekend, it is obvious to all of Australia and the world that ANZ and ML have done wrong. IMO, if this compensation offer fails, ANZ will still have the perfect negotiation structure to just change the compensation amount to get the votes they require to snuff all current and future litigation in one hit. Its absolutely brillant the way ANZ/ML and ASIC have structured the process, this process will make Australian legal history.
If the court approved the structure, its really just all about what amount will make it fly with the 75% required to bind the proposal.
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