Their confidence in the restructuring was clearly based on their confidence in a favourable interim ruling. In pg 2 of the annual report its stated that this confidence was "based on independent advisors".
From one of the articles posted here; the ruling has "surprised" the bankers, (probably surprised everyone)and everything is now thrown off balance. They are now frantically trying to negotiate a price with NW, then get another restructuring proposal to the banks that takes into account the crap price, then get the banks to agree to it; before the 19th(probably a bank imposed deadline).
"There has not been much sleep in the past 48 hours", says a BBP spokesman.
The above is my speculation only.
BBP Price at posting:
7.6¢ Sentiment: None Disclosure: Held
