"Be very clear that BNB going into adminstration wipes off the mgmt agreements for all of the satellites"
Where exactly is this said?
I assumed this too but when I actually try and look it up in black and white, I can't find anything. The closest I see is that BBI can terminate its agreement if the management company is not part of the BNB group. If BNB goes into admin, as I understand it the company and therfore the group still exist - just run by an administrator. If the administrator does not close down the management company, and the management company fulfils all its obligations, then BBI has no get out of jail card.
Thats the way I read it. Can anyone show me differently?
BBI Price at posting:
7.8¢ Sentiment: LT Buy Disclosure: Held
