SYDNEY (Dow Jones)--Australian tollroad developer BrisConnections (BCS.AU) said Wednesday its joint underwriters have not agreed to waive their rights to recover the upcoming A$1.00 installment from retail investors in the partly paid securities. In a statement, BrisConnections said trading in its securities will resume and while Macquarie Capital Advisers will use "all reasonable endeavours" to reach agreement with Deutsche Bank AG, "investors should not assume any proposal will be forthcoming." On Tuesday, BrisConnections said its underwriters were discussing a proposal that would "not require retail BCS unitholders...to be pursued" for the A$1.00 installment due April 29, provided that resolutions to wind up the firm are not passed at a unitholder meeting in Brisbane on April 14. BrisConnections said its underwriting agreement means the firm can't release unitholders from their liabilities, which would see them forfeit their units in the trust if the A$1.00 call is not paid by April 29, without the agreement of both Macquarie and Deutsche Bank.
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