One of the central disputes in the collapse of Opes Prime will be subject to a test case in the next two weeks,
The Age (and many other newspapers) reported.
Justice Ray Finkelstein in the Federal Court will use a case brought by Paul Choiselat, an unsecured creditor of Opes Prime and managing director of Jumbuck Entertainment, to determine the merit and meaning of a key contract in the dispute.
This is the Australian Master Securities Lending Agreement that, in part, governed share lending and borrowing arrangements between Opes' clients, Opes and its lenders (including ANZ, the target of numerous court actions from aggravated clients).
Justice Finkelstein has requested Opes Prime's administrators, Ferrier Hodgson insolvency specialists John Lindholm, Peter McCluskey and Adrian Brown, be named as defendants.