note holder letter from liquidator, page-16

The true winners are IMF, the liquidators, those former BBL employees who are still owed any money (e.g. wages) and perhaps those former executives.

The claims, if any, of those former employees, rank before other creditors.


As it was said in the news before, the liquidator (now the sole one after the partner resigned in August) is applying to the court for a priority payment with a premium for those fighting-fund contritutries.


A further update by the liquidator is proposed to be in January 2001. Hopefully, we will be told how much is left for noteholders.