1. ANZ took charge of Opes clients stock whilst the company was insolvent.
2. ANZ along with Opes told their clients that they held beneficial owenership of the stock.
3. ANZ NEVER lodged substantial shareholder notices in companies where they held 5% or more of the stock. This would suggest that they believed clients held beneficial ownership of the stock.
4. ANZ execs had "margin loans" with Opes. A total of 8 staff have since been sacked over the Opes saga and many more have been demoted.
5. ANZ were keen to settle with all Opes shareholders. Talks ended with no settlement. Now all of a sudden ANZ want to talk again with an outcome of the mediation due end of Jan 2009.
ANZ were in the wrong and they know it !!!!!
With regards to OZL. I hope a cap raising is all that is needed. But I also hear on the grapevine that BHP are interested in some assets.....
OZL Price at posting:
0.0¢ Sentiment: None Disclosure: Held
