opes anz trial

Thought I would start a new thread in preparation for next week 10 day public trial brought by beconwood.

I understand the press will be following the proceedings closely, as will all of us opes clients. day by day press coverage almost guaranteed. This is history in the making...ANZ bank on public trial.

I have not written off the mediation yet, until I see the actual outcome. I would suggest any mediation result may be overshadowed by the public trial and the bodies that undoubtedly will start float to the surface, and come to the attention of the learned judge.

ANZ are playing a dangerous strategy here, and which could backfire severely IMO. If they win the trial its good for us, as the evidence will have been tested for round two, and claims adjusted accordingly. If they loose its probably game over for them, and back to the market to buy all those little stockies back. They could appeal of course, but the reputational fallout will be huge IMO.

Its just a matter of time ANZ, and then there will be nowhere to hide. ASIC, the clients, FH, the press, the opes clients are all at their heels. I actually admire Smithy for being so resilient. But reminds me of the rainshower, nowhere to shelter, bound to get a soaking story from our colleague Mr KR.