I just came accross this audio of Hamill from 20 Oct 2008.
In it he basically says BBI can terminate the management agreement by a shareholder vote. An "overwelming majority" required whatever that means. It will be interesting to see how the termination plays out.
The bit I refer to is at about 10 minutes.
http://www.brr.com.au/event/52364/partner/theaustralian
Cheers.