bbi is not insolvent yet, page-14

In the dark and uncertain world of appointing a Receiver at the corporate level this will force all the lenders at the asset level to appoint to protect their individual positions. The project lenders wont tolerate having a receiver at a parent level who wants to recover their equity and will ensure that this does not happen by enforcing their asset / project mortgage charge aqgainst the individual asset

Therefore all assets within the group will have a receiver and generally employees then look for more certain futures and move on.

IMO, the corporate lenders will know that any equity at the asset level will be eroded if receivers are appointed throughout the group so once all their raving and ranting is over they will realise that sitting tight is their best option.

At the end of the day everyone (including Beppa) wants their money back and being patient will get everyones money back.

In the meantime lets just enjoy the cashflow and keep paying down debt from surplus cash.

IMO, common sense will prevail because every secured lender is getting paid and given the quality of the assets there appears strong cash flow cover including amortising debt by $100m per annum.