Merrill Lynch Australia chief executive Paul Masi told
The Australian that Merrill Lynch was unlikely to participate in any settlement of claims between the administrator of Opes Prime, the firm's former clients and ANZ. The boutique stock lender, which obtained most of its wholesale funding from ANZ and Merrill, failed in late March.
"You only settle something if you think you have done something wrong," Masi told the newspaper.
"We'd be happy to discuss. I guess our issue is still a very simple one. We need to understand what it is we have had to put up (and) for what reason.
"ANZ's situation is very different from ours and the fact that they choose to try and join us together is their issue. It's got nothing to do with us."