if pain persists see your family doctor...., page-7

thejase 128

Opes clients signed over ownership of their securities as part of the margin lending/ stock lending arrangement. This differs from usual margin lending agreements but is similair to the Tricom model.
These clients become unsecured creditors.
There have been various allegations of misconduct by Opes directors. ANZ appointed recievers as the main secured creditor.
Opes has failed and the creditors are getting their money back as best they can. I certainly dont think that Opes clients are being well treated but i suppose its a case of read the fine print and beware.
The subject has been well covered in the AFR, have a look i'm sure you will get a better explanation than i can offer.

regards

BT