BNB babcock & brown limited

here reply to enquiries to bnb, page-7

  1. StatsMan
    1,600 Posts.
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    23/01/09
    13:04
    Post #: 4721995
    I realise that BNBG is subordinate to the other debt, but the announcement suggests that under the new arrangement BNBGs holders will be left holding nothing. Is that just based on the PRESENT negative equity situation? I would like to know because, over time BNB will hopefully be able to pay me back the face value of my notes (maybe in a few years time). HOWEVER, the way the announcement is worded makes it sound like there is some scheme being concocted with the banks by which BNBG holders will be stripped of their entitlements to monies in the future. Can anyone comment?
    BNB Price at posting: 32.5¢ Sentiment: None Disclosure: Held
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