prospects for bnbg's, page-25

Babcock plan to buy time

Tuesday, 27 January 2009 | The Australian Financial Review | Karen Maley

Babcock & Brown is asking its 25 creditor banks to swap more than half their debt into a type of equity as part of an audacious restructuring plan aimed at preserving the troubled investment bank as a going concern while it sells assets.


Hmmm, I like the sound of this ... audacious!!