Anyone else see the conflicting statements here? Seems ANZ may be dumping stock unecessarily (not "orderly realisation" as they indicate) and will simply claim the shortfall from Opesprime clients.
And Banks wonder why we don't trust them nor believe their waste of shareholder money advertising telling us how much they care for us....B/S!
ANZ said in a statement that it believes "based on an orderly realisation of the security portfolio, it is unlikely to incur a material loss on this exposure".
The customers who lodged the shares as security for margin loans they took out with Opes are expected to be liable for any shortfall.
"OPSL's clients are potentially exposed for the difference between the value of the collateral securities they have advanced and the loans provided by OPSL. At this stage it is too early to estimate the realisable value of OPSL's assets to meet client claims," said an administrator, John Lindholm.
