Dear Ant,
Mate I take my hat off to you, and some of the others here that can make a rational, well reasoned argument re the involvement of ANZ in the Opes saga.
There's no doubt that ANZ shouldn't have been involved in Opes, the setup was definately unfair to individual investors with the pooled debt arrangement.
Whether it was LEGAL, is of course the crux issue.
That it is immoral, is without doubt.
If (and it's a huge If imho) ANZ is found liable in any way to the debts of the Opes investors then the ANZ has only itself to blame, and believe me the shareholders of ANZ will want Goode's head on a platter along with anyone else involved.
And the alleged conduct of the Opes directors and senior management appears to be definately worthy of being prosecuted in the Courts.
Unfortunately that won't bring any financial restitution to the Opes investors but it needs to happen regardless.
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opes mediation two, page-9
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