opes liquidated, page-8

My reference to Oct 20 was re finalisation of mediation, not valuation (close-out) date of claims, which is now Oct 16 as per the vote for liquidation was passed today:

"As Oct 16 will be used for valuing claims under a Liquidation, it would appear that option would adversely affect the debtors and smaller creditors. I believe another possibility (not mentioned by FH) is to request an adjournment of this vote, which is possible under the Corporations Act (thereby allowing mediation to take it's full course to Oct 20)."

The funded lawyers (through their proxies) got their way today. They and Ferrier Hodgson are the only winners, as they get to maximise their fees through protracted litigation. Opes clients and ANZ are now further apart in my view. It was also clear that March 27 is the only date considered fair by the majority of Opes clients - it's the last and only date we were all on the same footing. Any mediation offer not based on March 27 will not pass, certainly not by number.