Opes Prime Group Limited has been placed into receivership

[SurfaceUnits]

The Company has become aware today that stockbroker Opes Prime Group Limited has been placed into receivership by the ANZ Bank today.

HUNDREDS of investors have lost millions of dollars, several listed companies have been forced into trading halts and criminal investigations are possible after the collapse of Melbourne-based broker Opes Prime.

The company's main lenders, ANZ and Merrill Lynch, are liquidating more than $1 billion in shares, which were secured against Opes Prime's borrowings.



Eric's sponsor down the drain.

http://business.theage.com.au/opes-goes-subprime/20080328-223z.html

Millions lost as broker crashes
http://business.theage.com.au/millions-lost-as-broker-crashes/20080328-2281.html

[KLang]

Karma.

Open wheel is doomed. Everything it touches turns to crap these days.

[Wally]

I thought this was about Transformers.....

http://www.thelastminuteblog.com/wp-content/uploads/2007/05/optimus-prime.jpg

[Chaos]

there is only one...

http://home.comcast.net/~mathewignash/images/csoptimusprime.jpg

[pchall]

Cool! A Transformer thread!

I'll see your Optimus Prime and raise you:

http://nylatinojournal.com/home/images/stories/milka_duno2.jpg

[opinionated ow]

I hope Formula 3 Australia has its money already...and also Team BRM and Piccola Scuderia

[opinionated ow]

I guess aussie f3 does have all its marbles.


Statement from Formula 3 Australia
Story By: F3 Media Release Date: 31/3/2008 at 4:09:16 PM


Formula 3 Australia has today announced that it is ‘business as usual’ for Australia’s premier open wheel category, the Kumho Tyres Australian Formula 3 Championship for the CAMS Gold Star, irrespective of the issues surrounding Opes Prime, one of the category’s keenest supporters.

The Kumho Tyres Australian Formula 3 Championship is in a sound financial position. The Executive Committee of Formula 3 Australia has secured the Championship Prize Fund for the 2008 season and these funds are lodged in a Term Deposit account controlled by F3A.

As the teams involved in F3 are all independently owned and operated; any flow-on from the Opes Prime situation is seen as minimal and, accordingly, Championship Teams and the category as a whole will continue to build as strongly as it has done over the last three years.

The championship is also pleased to today confirm that the balance of the 2008 season will be conducted at Shannons Nationals events, with the season now concluding at Symmons Plains raceway in September with the second running of the Australian Formula 3 SuperPrix.

The championship will also make a welcome return to the streets of the Gold Coast with a Non-championship event at the 2008 Gold Coast Indy 300 carnival.

Kumho Tyres Australian Formula 3 Championship – Calendar 2008.

Rd 1 A1GP World Cup of Motorsport – Eastern Creek (Complete)
Rd 2 Clipsal 500 Adelaide – Adelaide Parklands Circuit (Complete)
Rd 3 Shannons Nationals – Oran Park. April 26/27
Rd 4 Shannons Nationals – Mallala. May 17/18
Rd 5 Shannons Nationals – Phillip Island. June 14/15
Rd 6 Shannons Nationals – Eastern Creek. July 12/13
Rd 7 Shannons Nationals – Phillip Island. August 9/10
Rd 8 Shannons Nationals – Symmons Plains. September 20/21(Formula 3 SuperPrix event)

Non Championship: Gold Coast Indy 300 – October 23/26.