bbipl will not go into administration, page-5

I would think that the management are going to claim that they have worked on behalf of the shareholders as well as the banks. This is why the management have offered the 10c in $100 offer. Their argument will be that BNB was insolvent anyway and they have negotiated as best as they could to get some money for the BNBG holders. Without their negotiating the BNBG holders would have got zilch. Very obvious how they are going to defend the accusations being levelled against them.

I've had a pretty look at the document released this morning, and BNBG holders are a gonner unless there are inaccuracies in the document. BNB and banks know they can keep BBIPL running, hence the reason for the derisory offer, which they don't give a toss whether we accept it or not, because it will make no difference to them.