Ann: Update on Forecast 2008 Final Result , page-32

further to the above post, if over time the BNB satellites stage a gradual recovery and their share prices start to go up again, this will add positive equity back onto the BNB balance sheet. I think this is what the banks are banking on happening.

Also the ongoing mgmt agreements that BNB has with its satellite have a definite intrinsic value. For the banks to put BNB under and destroy this value, well they would be doing themselves a disservice.

The plot most definitely thickens now........