bbi eps structural seniority to corp debt, page-7

don't you think turncoat that the large BEPPA holders are onside already? Everyone has a price and theirs must have been met as they have gone silent now.

And surely the point of the recap is to clear the corporate debt away altogether and to give the remaining equity holders (including BAM) a chance to make some money from the cashflows coming in over time from the assets they still own?

People are in never never land if they think for a nanosecond that the banks are going to allow their debt priority to be defeated by equity instruments? Get help.