babcock shareholders to be wiped out, page-9

purchasing BNBGs in the recent months was a punt on whether or not BNB would survive or not. If it survives, there is a chance of making serious money, if it fails then we lose our investment. There is nothing to gain from going into administration at the moment. If it turns out that the rights of the BNBG noteholders have been changed or removed in some way (which hasn't happened yet), then we can go down the administration windup path. It is too early to start talking about this.