opes prime

An opinion from Roddy Meagher QC this week for a law firm acting for Opes clients argues beneficial title never transferred to Opes Prime.

It must be said that this is just an opinion and the laws on this securities lending contract have never been tested in a court of law. Lawyers for the many plaintiffs in the many suits sprouting up are likely to concur with Meagher — as you do — and his view that the transfer was "always treated by both parties as margin loan agreements, not as sales and not as involving any transfer of beneficial ownership".