the market has increase 20% since its low in march 09, assets...

the market has increase 20% since its low in march 09, assets price would have appreciate somewhat since then.

BNB nta was -1.5 Billion on 30/12/08. My guess is that since then, it would have improve somewhat. Maybe NTA is now -1.0 Billion which leave the banks short of 0.4 billion, maybe it is +0.5billion.. Which means shareholders might get something.

One thing is for sure, market will improve and asset price will improve.

Will the bank risk it letting noteholders put BBIPL into administration? When the forecast is looking good. They will more than likely offer another deal, a deal whereby noteholders will be pay in full and the banks profit all the upside, leaving shareholders with nothing… greedy bankers.