what the anz knew and when

http://business.theage.com.au/opes-who-knew-what-and-when/20080508-2cck.html?page=1

My reading of this article by Michael West, is that in February, when Opes had told the ASX and ASIC it was in breach of its liquidity requirements, ANZ was also aware of the liquidity position.

Now we have just heard from ASIC yesterday that they rejected accusations it didn't do enough to identify and alert investors to the woes of Opes Prime. I say ASIC cannot be taken seriously by anyone now. Their reputation is now on notice. ASIC knew in February...and then sat on their hands.

And we also now know that the ANZs charge taken on 20 March is seriously questionable, given what they knew. It could be alleged that ANZ had a crafty plan to put this thing into receivership on 20 March, or earlier. ANZ could be impeached as a result.

Talk of a DOCA with ANZ settling for 70c in the dollar, is the ANZ PR machine at work... putting some 'spin' on what a 'good' bank they are. Sorry ANZ I will not settle...you will not get my vote...I want you in the courts or 100c back at current market prices...plus a public apology. And I have a bunch of Opes clients with me.