The commercial agreement follows multi-party talks, including the Australian Securities and Investments Commission over the past six months which have been mediated by Alex Chernov AO QC, formerly a Justice of the Court of Appeal of the Supreme Court of Victoria. ANZ expects implementation of the scheme of arrangement may take some months. It will ultimately require court approval to take effect.
Provision was made for the uncertainties associated with securities lending in ANZ’s 2008 accounts.
Enquiries from clients of Opes regarding the settlement agreement should be directed to the liquidators of Opes by email to email@example.com or telephone on (03) 9604 4922.