m.west on anz, page-6

Lets look at the bigger Opes/ANZ picture.

Opes is in administration. ANZ does not want the company to go into Liquidation. Why? Liquidation will allow the Liquidator to undertake investigations as to what occurred in Opes and allow them full access to all records of the business. This investigation will go into what caused the collapse... The Liuidator will commence proceedings which are in the Liquidations best interests.

Why does ANZ want a Deed of Company Arrangement to be executed? Once this is executed the company will go back into the hands of the directors (or i would expect those that ANZ wishes to be appointed, effectively giving ANZ control of Opes). The inside working of Opes shall then remain that, inside workings, something the public is not privy to and private. I would also expect Opes to soon thereafter be placed into Voluntary Liquidation to put an end to Opes once and for all. Why voluntary Liquidation? without any revenue being generated it will soon be insolvent and bled completely dry.

ANZ will gain from the DOCA significantly. Why else would they cough up cash for someone elses collapsed business? Most others will not benefit from the DOCA. Most importantly ANZ and significant individuals will not be scrutinised over its conduct that led to the collapse...

I must commend ANZ and their lawyers. They have managed to limit their exposure on the Opes collapse and are now working at putting to rest much of the bad publicity that would arise if investigations took place as to what occurred with Opes. This DOCA may also assist with hiding many frauds which may have occurred in the collapse.