babcock and brown, page-49

Relevant to noteholders ...

While the costs of the liquidation are significant, higher interest rates in recent years have kept the cash balance in Babcock & Brown Ltd (In Liquidation) steady around $23m (against BBSN claims of A$608.38m):



I am a buyer of BBSNs for any noteholder that is looking for liquidity after 16+ years of waiting for the liquidation to end.

It is impossible to know when the litigation (and therefore liquidation) may finally end, but the liquidator and his legal advisor seem unlikely to settle and are happy to fight it out for an unknown number of years as Bookarelli keeps funding groups of shareholders to try and be accepted as creditors despite quite the streak of legal losses.