afr article today on bbi's dbct sale, page-13

Not sure if BNB going belly up helps annul the mgmt contract - BBI's contract is with Babcock & Brown Infrastructure Management Pty Limited a subsidiary of BNB.

From what I've read in the media the BNB beast is designed so that even if the head company goes down due to sub debt holders the remaining sub-entities (who the banks have lent their secured cash to) stay alive and continue to operate (now for the benefit of their banks).

Cheers
Simon