Seems like some Opes Clients are now starting to get their act together and are beginning to get traction in the courts. The first is the injunction granted to Gindalbie in the NSW supreme court brought by Slater and Gordon. There is a second motion before the Victorian Supreme court on behalf a group of 4 Opes clients but strangely the court has decided to adjourn to next week - meanwhile the stock dumping goes on.
By this stage ANZ and Merrills have most likely sold off all the easy stuff and are now left with holdings that are going to much harder to move.
I'm sure going into this the banks and Merrills knew it would take a few days for clients to organise and engage legal help with firms not scared off by ANZ. Now things are starting to happen expect it to happen thick and fast.
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2 comments:
Should we the victims, group together in each state to figure out the best way to handle this saga ?
Thanks.
Yes, but I expect one big group will form across Australia. However it will take a couple of weeks before the current legal groups are able to pull together under a common approach. Slater and Gordon in Melbourne seem to be taking a lead role in making sure all the groups are informaed about latest projects. Also, Logie Smith Lanyon have gathered together quite a large group already. See front page for details.
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