Those of you talking about ANZ settling - I doubt it would...

Those of you talking about ANZ settling - I doubt it would happen due to the fact it would put them at risk of a claim from the administrator or a future liquidator of Opes Prime under insolvency laws. As a secured creditor ANZ is very limited in its rights to deal with assets the subject of the security. They are only entitled to realise the assets to repay their debts and the costs of the receivership. Anything left over must be returned to the company (which means in this case the administrator) and it is for the company and its administrators to then deal with the assets in accordance with insolvency laws.

The only way I believe ANZ could settle is if there was a definitive decision from the courts on the ownership issue or once (if??) a liquidator of Opes Prime has been appointed and signs off to agree that the accountholders were in fact entitled to the return of the shares and cash. Whilst there is any doubt whatsoever over the ownership issue ANZ is at risk of being pursued by the administrator or a future liquidator if they do anything with the shares/cash other than apply them against debts and return the funds to Opes.

If ANZ settle and return shares and cash to those of you who had accounts with Opes without a definitive decision on the ownership issue, a future liquidator (or the current administrator) of Opes Prime could turn around and claim that once ANZ had recovered the monies owing to it ANZ had no right to deal with the assets other than to return them to the control of Opes Prime (being administrator or a future liquidator) to deal with under insolvency laws.