bcs are plainly insolvent

In the Chairman's letter to shareholders, and also in the notice of meeting, BCS makes the following assertions:

That if BCS is wound up, the remaining installments will still be payable.

That, even if those installments are paid, there will be no value in BCS at all for the shareholders.

Here's the actual quote.....

"After payment by unitholders of their two remaining installment obligations, there is very little likelihood of any residual proceeds being available for unitholders, following a wind-up of BCS".

So, even if the remaining $800 million which unitholders "owe" is paid into BCS in cash, it is still worthless !!!

This is a quite remarkable admission ! They are most surely insolvent right now.