its not just the ci who has the opportunity, page-7

Five different parties will be involved in the deal(BBI, Beppa, SPARCS, Banks, CI)and possibly one of those parties would veto the deal. Any further falls in the SP would not help. To limit the damage, i think that converting Beppa in the short term should be abandoned.

I still think that a limited capital raising (400mil) to deal with the short term debt and continue the asset sale program is a much better option for everyone.

I agree with many here that this deal has a good chance to fail, but it wont be the end for BBI IMO.