brr now, page-19

is this the same opes..........................................................Looks like your in the unsecured creditor que...get a good lawyer and good luck....


MELBOURNE (Dow Jones)--Deloitte Corporate Reorganization Group, which has been named
receiver of Opes Prime Group, said Friday the Australian stockbroker and financial
services company owed A$1 billion in secured debt to Australia & New Zealand Banking
Group Ltd. (ANZ) and Merrill Lynch & Co. (MER)
Last week Opes Prime directors became aware of a number of cash and stock movement
irregularities had lead to a shortfall in the company's books, said Chris Campbell,
who heads the Deloitte unit.
ANZ funded the shortfall with a view to restructure Opes Prime after an investigation
into the causes of the shortfall, Campbell said.
"During this week, we found the holes within the group were significantly larger
and the (Opes Prime) directors came to the view yesterday it was unlikely a restructure
was going to occur," he said.
ANZ was owned A$650 million, while the bulk of the remaining A$350 million was owed to
Merrill Lynch, Campbell said.
The amount of unsecured debt owed by Opes Prime hasn't been determined at this
stage, Campbell said.