why is bbp more than bbi, page-11

An administrator of BNB has to act in the best interests of BNB's creditors. Therefore, it would not be in their interests to sell 240M shares at 2c or lower. That would bring less than $5M. The actual liquidation process of BNB could take 10 years or longer. I think Bell Securities was finalized after 15 years. BNB is a very complex company, with complex structures. It will take years and years to untangle the web. They can wait until the very end to liquidate shareholdings.