Opes Prime collapsed in Mar 2008 owing over A$1bn to lenders
Opes Prime Group · Securities lending and stockbroking
The case in brief
Visible before detection
Checks that could have surfaced it, on hindsight
Collateral & double pledge
Would have shown that the same shares stood as collateral for multiple parties.
Can mislead when: Pledges made off the registries stay invisible, and vague invoice descriptions are hard to match.
Third-party confirmation
Would have confirmed holdings with custodians and lenders.
Can mislead when: Counterparties can collude or ignore requests. A non-response is logged as a gap, never as a pass.
Document authenticity / direct pull
Would have read the client agreements on title transfer.
Can mislead when: The company can refuse consent, and a refusal is itself a flag. Some banks and co-op banks are not on AA yet.
Where Kubr services would have helped
Valuation context
Offered in India- Peer multiples and the exit-multiple bridge would have shown how much of the story relied on valuation holding.
Verified Snapshot
Offered in India- C13 Would have shown that the same shares stood as collateral for multiple parties.
Financial diligence
Offered in India- C5 Would have read the client agreements on title transfer.
Legal diligence support
Offered in India- C13 Would have shown that the same shares stood as collateral for multiple parties.
Mapped from the checks each service runs. A hindsight reading of public records, not a promise that the failure would have been found.
Same pattern
A summary of public documents. It reports what the sources say. It is not Kubr's finding and not a statement of guilt.