phillip thomas explains all, page-21

hope that you are correct with your assessment...however...

Michael West has just written an article ( refer forum Top Stocks "opes explained") advising that all of Opes clients who took out loans automatically assigned all their shares and security over other shares to Opes and in turn this was passed to ANZ and Merryl Lynch.Clients have lost all their capital some one billion dollars.

I am unsure how this impacts Phil as he no doubt had to offer security over his loan.

question? Has Phil also lost all/most of his ADY shares?

Apparently ANZ has commenced selling shares in order to cover exposure. Maybe this explains why 20m ADY shares were sold?

I sincerely hope that my reading is totally incorect and that all is in order with Phil in particular.

The 80m shares held by Leverage and associated coys then becomes an issue.