My understanding is that the current court case relates to both Phil Thomas and Basil Blumberg attempting to seek compensation for the ADY shares that they lost when the ANZ bank cleaned out OPES Prime shareholdings.
Basil had some 125m ADY shares ( registered to Felicitas)and Thomas some 20m shares ( registered to Panopus).
If they are successful with their claims they may obtain 37c for each share held.The liquidator cannot give them ADY shares as the ANZ sold the holdings.
Thats $46m for Basil and $7m for Phil.
Naturally Anthony is hoping that his dad is successful. He would also be hoping that dad gives him a $xmillion dollar gift when he exits B jail.
Here's hoping that the liquidator is able to establish how these guys really obtained the shares.Lets face it ADY shareholders knew nothing of OPES ADY share movements/rewards during 2007-8.
Had my shares been held by OPES I also would have been a happy person to obtain 37c per share instead of the 2c when i sold.
Maybe someone can validate my post for accuracy. Wouldn't want to mislead anyone like CEO xx did.
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