Opes Prime collapsed in March with an estimated asset deficit of $722 million, including $579 million owed to clients who now rank as unsecured creditors, according to a report lodged with the Australian Securities and Investments Commission by the receiver Deloitte, and in turn reported by
The Australian.
Deloitte said it has commenced action to recover $266 million owed by "sundry debtors" who are not identified in the report but may relate to the firm's six key problem accounts.
The report shows a $142.4 million secured amount owed to ANZ. This compares to mortgage debentures registered by the bank shortly before Opes' demise in return for $95 million in emergency funding, according to The Australian.
ANZ and Merrill Lynch took ownership of shares pooled by Ope's 1200 or so retail investors in order to recover their own loans to Opes, which the latter recycled as margin loans to customers.
That episode generated considerable noise, and a flurry of legal actions for ANZ.