spoke to bnb, page-40

>What will be the end result of the meeting if it goes as you say it might ?

The entire BNB/BBIPL structure would be liquidated. This includes all the wholly owned BBIPL subsidiaries managing satellite assets.

>What will happen to BNB and it shareholders and noteholders ?

It is almost certain, if you believe our board, that both groups will get no payment from BNB.

However, the BBSN noteholders have the surety of the BBIPL guarantee.

However, there is no practical chance the ex-BBSN noteholders can get a payout from BBIPL from the guarantee.

The only possible comfort is that the Liquidator has an obligation to maximise the outcome for the unsecured creditors.

The other advantage is you don't have to wait 9 years to be advised of the same outcome.

>Will it be put into administration or will it be asked to continue trading ?

It will be liquidation ... complete windup.