"This is no battle by the small end of town against the Big End of Town.
This is the Big End versus a vast array of smaller company directors, savvy market players and high-net worthers - as well as other aggrieved and motivated Opes customers.
Such are their numbers, and many of these are powerful people in their own right, that a protracted legal battle would simply not be pragmatic for the banks. The damage to ANZ's goodwill would be too great.
The issue is getting the throng of Opes victims - all wearing different levels of exposure - to sign off on the one deal ... should it be offered."
ADY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
