article in the australian, page-4

One other point.........

BBIPL have never denied the guarantee provided to noteholders. The reason for non-payment of the notes, is the inability of BBIPL to repay its loans to BNB, until other creditos are paid first (the banks)

So can debts, such as the notes (which even BBIPL say are due and payable now)....be deferred, so as to avoid an insolvent situation. Of course not - unless BBIPL has its own set of Corporate Law rules.

Even begs the question....BNB under administration own 99.7% of BBIPL, is in incumbent on Deloitte to act to place BBIPL in administration anyway, on the basis of BBIPL being insolvent.