Towie,
Your comment is rather at odds with my assessment of the situation. BBIs are worth nothing or 4 cents or whatever can the market can claw back if another proposal is forwarded and accepted. What ever happens, the BEPPA note holders are the real owners of BBI.
Without note holder's approval, the only options for BBI are VA or an arrangement that will see the notes run to maturity in 2012.
I don't think that we will see either.
Enjoy the red!
Biased BEPPA holder. DYOR.
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