BNB babcock & brown limited

babcock shareholders to be wiped out, page-12

  1. 200 Posts.
    My reading of the announcement is that there is virtually no value in bnbg. In the prospectus 25% of note holders can place the Co. into admin.
    I think we should get the share register and see what sought of support we can drum up. There is no point in having these clauses in the prospectus if you don't use them to protect your own interests. The Banks want to play hard ball Fine. Lets get organised and use the only card that we have and either force a better deal from the banks, or force the company into admin. Maybe it will be a bit of a lesson and prevent the banks from showing such disdain to other note/share holders in other companies in the future.
    Think about it logically, IT IS OUR RIGHT as per the prospectus.
    We are not totally powerless here, we have a big ace, and if we aren't prepared to play it, then we may as well bend over and take it up the *@#%^
 
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