>Can BNB place BBIPL into administration not through recalling...

>Can BNB place BBIPL into administration not through recalling its loan but as the majority shareholder (>90%) deciding to liquidate BBIPL?

Yes it can.

The Administrator of BNB can summon a BBIPL Special General Meeting.

At this meeting the Administrator could fire the existing board followed by the appointment of the Administrator's nominee.

The nominee could amalgamate any of the 100% owned subsidiaries into BBIPL.

Any joint ventures could have their boards replaced.

Given the constitutions of each of the subsidiaries - even constitution changes could be made, if the holdings are high enough.

When things are arranged ... many of the subsidiaries followed by the BBIPL consolidated entity could be tipped into Administration.

At this point, the Bank appointed Receiver would intervene to recover the Bank's cash, secured by a charge over all the assets.

This is a much poorer scenario for the Banks than simply being able to preside over a set of trading entities ... which could trade for ever ... with only BBIPL in administration.