We all the knew the business model of both BNB and Macquarie Bank. It was based on making regular mega deals and paying ridiculous bonuses to everyone involved and whatever was left over went to the shareholders.
This business model was always going to be flawed if there was a downturn. So from this aspect, the shareholders knew there was substantial risk in this business model and should not have been surprised that BNB went bankrupt.
Obviously the other significant aspect is whether the management should be sued for apparent non-disclosure of BNB's perilous financial situation and why the management did everything they could to help return funds to the banks via exorbinant interest rates on the renegotiated loans without considering the noteholders or shareholders.
As for giving Deloittes the cash, I'm undecided yet.
BNB
babcock & brown limited
$400 to deloitte to continue investigations, page-11
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