Opes liabilities revised upwards

The administrators of Opes Prime prepared revised estimates of the debts owed by the firm to its wholesale financiers.

The Age reported that they now estimate the debt owed to three lenders was $1.3 billion in aggregate, up from earlier estimates of around $1 billion.

Of this, ANZ is owned $760 million, up from an earlier estimate of $650 million. Merrill Lynch is owed about $480 million, $130 million more than reported before.

ANZ is still selling the portfolio of shares held as disputed security against the portfolio of stocks held by Opes under securities lending agreements from customers. More than a dozen of the latter are now subject to litigation by aggrieved customers of Opes.

Directors of Opes appointed Ferrier Hodgson as administrators at the end of March. ANZ appointed Deloitte as receivers.