I agree John, very confusing. My take on the situ is this,...

I agree John, very confusing. My take on the situ is this, anyone please feel free to correct me if I've got it wrong.

The 3 companies mentioned had a significant number of shares in their own right, however, they got in bed with Opes who handed them cash to buy more shares using their BPO shares as collateral. The deal with Opes effectively handed ownership of the shares to Opes until the loan facility was paid out.Opes then went to ANZ and said hey look we got all these shares, can we use them as collateral to get extra dollars from you guys to fund more margin loans on other peoples shares, this effectively handed ownership of the shares Opes used as collateral to ANZ. Opes goes bust before the original margin loan is paid out therefore Opes biggest creditors ANZ get their grubby little mits on all of the shares that Opes used as collateral. Man, I feel really sorry for the guys that got sucked in by Opes, they never even got a margin call giving them the opportunity to retrieve their shares.

What a fiasco!

BPO SP will suffer from this, as will SLA, ADY etc etc etc. On a bright note though, if you're cashed up then buy time is coming very soon ...... damn shame I'm not cashed up!