crazley res boss wants his shares back ex op, page-17

You thinking is spot on, fatbob.

But then who gives a flying squirrel about breaches of the Corporations Act? Do you know how many are prosecuted by ASIC? None. That's how many. How seriously will a judge take a breach? About as seriously as ASIC does.

Does a breach of the Corporations Act go to proving the TPA misleading and deceptive conduct arguement? Not really.

The 'ANZ was a party to the m&d conduct' arguement is flimsy because, like you say, they appear to have honestly believe they had no beneficial interest in the shares.

Here's my prediction: ANZ will have it's cake and eat it, too. The Opes Clients will get the shaft because FH will be funding their legals out of the liquidation proceeds.

If the Opes Clients had any sense, they would back the fudge off and cut the best deal they could to preserve what's left of the liquidation proceeds. Of course, having now spoken some goddamn sense, I will be denounced as 'working for the enemy', because their top-flight lawyers say:

"Yes, you've got a great chance of winning," when they really mean, "I've got a great chance of buying a new yacht with what would've been your cents on the dollar."

Think about that for a second: The Opes Prime Memorial Yacht.

The moral of the story: Don't borrow money to buy shares & Don't ask a barber if you need a haircut.