These BNB people lied, cheated and connived. They can have my $400, no problem at all. Even if they put some heat on them and I get nothing, well I would still be happy.
I understand that the main point of issue is the lack of disclosure in the bond prospectus that BNB could introduce new debts in above the bondholders without telling them. That is disgraceful. Lack of disclosure is a no-no in legal circles.
If a legal action comes about to give bondholders a higher priority and/or to press the banks for damages, then if it gets any traction then the banks are going to come out with an offer to make it go away. I am happy to put $400 towards that.
BNB
babcock & brown limited
