dumped and out, page-15

towie,
I think long term, 19c will be easily passed. In fact, once DBCT sells I would expect closer to 30c and BEPPA closer to 50c. The only reason BEPPA trades at 10c in the dollar is because the market is still pricing BBI for liquidation. Once BBI is out of danger, BEPPAs will be like gold.
Long term, there is more upside in BBI than BEPPA.
Remember the APR plan? It's still valid. People still don't believe it but I think BBI will be paying distributions sooner than the market thinks. The BEPPAs will be dealt with later, probably by a re-structuring on more favourable interest rate terms. Once BBI is safe, BEPPA holders will be more inclined to vote for new reset terms, unlike the SPARCS holders who probably just wanted OUT now and converting to BBI was the best way to get out.
All of the above depends on asset sales, especially DBCT for circa $2.7Bn.