banks sold bnb debt to hedge funds, page-5

Hedge funds, known as vulture funds are more ruthless than banks. This doesn't bode well for BBI unfortunately.
BAM or Bumblebee? It doesn't really matter. Both are in it for themselves only. Once they own 90% of the equity, they have effectively taken over the company. The modus operandi with hedge funds is then to strip the company of it's best assets first (they will find a home in the hedge fund's portfolio) and then sell them down the track at a profit (hopefully for them).