opes creditors may get a return of up to 30c

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    Administrators of collapsed stockbroker Opes Prime say unsecured creditors may get a return of up to 30 cents in the dollar, possibly more, from their investments with Opes.

    In a presentation to Opes clients at a creditors meeting in Melbourne, administrator John Lindholme, of Ferrier Hodgson, said: "based on current knowledge, (the) dividend is estimated at up to 30 cents in the dollar, with potential upside ... "

    Six meetings of creditors of various entities associated with the Opes Prime group have been held today to update them on the current status of Opes Prime.

    The media have been excluded from the meetings, which have been scheduled throughout the morning and early afternoon.

    Receivers and managers were appointed to the Opes Prime group on March 27, after cash and stock movement irregularities were uncovered in some client accounts.

    The accounts of 1,200 Opes Prime clients have been frozen.
 
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