doca will not extinguish clients

ANZ are probably looking at the cost and the management time and their damaged reputation as more bodies float to the surface, from a litigation.

So ANZ may be looking to cut its losses and fund a DOCA at an agreed level. But they would demand a release from litigation by Opes companies in return for cash.

However, the actions by clients, as unsecured creditors, would not be extinguished by a DOCA. Bringing 1200 unsecured creditors into line for negotiation, and a release for ANZ, would be near impossible, like trying to herd 1200 cats.

The litigation route is the ONLY option for clients.