m.west on anz, page-25

According to the paper, Opes Prime administrator Ferrier Hodgson became aware that Merrill Lynch's charge might be faulty because the bank had failed to register it within 45 days, as required by the Corporations Act.

Merrill Lynch signed in October 2006 but was not registered until 12 months later, reports The Australian Financial Review.

In March this year, the US-based bank took a second $2 billion charge over Opes Prime assets, but it may also be declared void because it was not registered until March 28, the day after receivers were appointed