All miselading and deceptive conduct cases must be before the...

All miselading and deceptive conduct cases must be before the 27th March or to put the client back into the original position before the misleading and deceptive conduct took place.

Perhaps FH in the statement of creditor claims may deal with the misleading and deceptive conduct at the Opes Prime level and client level. I am not too sure what prevents clients claiming misleading and decptive conduct against Opes Prime when it has a big balance to distribute after the possible settlement of the preference payments from the banks.

This has to be a consideration for settlement, otherwise the Opes Prime funds may be tied up for years as claiments/creditors make their case against Opes Prime under sec 52 and the corporations act as a retail client as defined by the act.

If the date is not fair, there would be no choice than to persue misleading and deceptive conduct against Opes Prime which will be easy to prove given all the evidence. Retails clients as defined by the corporations act will win hands down given the poor disclosure in the FSG and the fact retail clients should have had more protection and disclosure and were not in a position to make an informed choice.

The issue with this in the past was that Opes Prime had no funds and was insolvent, if the banks settle with Opes Prime, the game looks very different and their are funds available at the OP level.

This has to be some how global to get around all the issues that are being faced by the banks and Opes Prime.