babcock shareholders to be wiped out, page-4

I feel like I've just been raped!
What I just don't understand is that if there is no longer any value for shareholders & note holders why the hell are the board still hanging in there?
Surely after a statement like that it would simply be best to call in the recievers and let the banks wear the consequences.
I feel that we (the note holders) should get together, get some legal advice, call an egm and put this bloody dog into recievership, unless the banks come up with a better deal at the egm.
What do you reckon?