Ann: Anticipated Impairment Charge , page-17

The number is ugly when you first look at it, however, you have to decide whether the GFC has seen the worst and if so, even with writing off $900M, the NAV is still approximately 54c per BBI.
If further writeoffs happen in the next 6-12 months, then BBI holders are in trouble.
My stress test spreadsheet had plugged in $1.5Bn for total impairments on a worst case scenario.
For BEPPA holders, this news is positive as there is still circa $1.2Bn worth of net assets AFTER BEPPA are paid out in full ($1.04).