yes, it's dead now, page-19

It’s a workout end of story.

The business is dead the only deals to be done are asset sales, the only bankers that will continue to work there are those involved in the sale of assets. Management teams will move with the assets as they are sold.

The best and brightest have already, or are in the process of moving on. The pipeline of development opportunities cant be funded so will be sold. The revenue from the funds has all but gone and the cash flow from the assets is used to fund ongoing debt.

The banks will keep her afloat in order to realise higher prices for the assets, workouts can take years but as long as the banks get repaid so be it.

But make no mistake Lazarus will not rise, the majesty of BNB has passed, trust has gone and that is the truth any other belief is pure fantasy.