The Shares were used as security for a loan. The security has...

The Shares were used as security for a loan. The security has now been called in as in the 'control' of the lender (ANZ). The lender will now auction the security to gain the best price to cover the secured loan. Any proceeds above the secured loan will be returned (in cash I believe) to the unsecured lender (Whoever purchased the shares thru Opes Prime.) ANZ is basically acting as the reciever or liquidator in this instance. I don't think a receiver needs to lodge ownership of shares. It is much the same way if a finance company took back your car because you defaulted on a loan they would not have to register the vehicle in there name prior to putting it up to auction.