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(201) See, eg, Richard Gluyas, 'Opes Prime Pitch Appealed to the Posh', The Australian (Sydney), 3 April 2008, 23.
(202) Slater & Gordon and IMF (Australia) Ltd have both been quoted as wanting to continue with their respective class actions regardless of the outcome of any negotiation talks between the administrators and ANZ: see, eg, Mathew Dunckley and James Eyers, 'Opes Prime Clients Unmoved by Mediation Talks', The Weekend Australian Financial Review (Sydney), 24-25 May 2008, 13.
A spokesperson for the bank said, 'The Opes Prime matter is subject to a range of legal actions that we will be vigorously defending.'
ANZ, one of two lenders to Opes Prime, which went into receivership in late March owing more than AUD1bn, is currently in the process of selling shares held as collateral to recoup an AUD616m loan made to Opes.
A newly formed blank check company, Opes is organised for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalisation, reorganisation, or other similar business combination with one or more businesses or entities.
Flagstar said it will operate Opes Advisors as a separate division with its own brand, providing a strategic expansion to Flagstar's retail home lending franchise.
It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as 82 retail locations in 25 states, representing the combined retail branches of Flagstar and Opes Advisors mortgage division.
Opes Advisors is a leading full-service mortgage bank helping clients make effective financial decisions that support their lifestyle today and produce a satisfying future.
Competitio opes 6am Tuesday July 7 ad closes 9am Tuesday July 14 2009.
The Library's Office of Planning and Evaluation (OPE) serves as a major source of support when seeking outside funds.