(bbp) may be sold as a soon as january, page-18

"Interest cover unfortunately is not the only issue, refinancing requirements are uppermost just now. Issue with BBP is that they owe BNB $400m because they did not secure all required funding from their banks. BNB are second ranking security holder and thus to pay BNB back when funds due ( Sept 2009 and March 2010) they will need to sell all assets because I doubt the banks will cut them any slack to pay BNB anything while they still have exposure. "

EEP ! So they have to pay out their whole bank facility (2.7 billion?) before they can pay back BNB? I've never heard this said. I thought they can sell assets to pay out debts and not pay dividends until bank gives approval.