Got it round the wrong way there dargie, recourse is in reference to the borrower, not to the asset.
That means, for the corporate debt, it's recourse or in other words, BBI is responsible for all money owed to the banks.
In comparison, for the asset level debt, the lenders are unable to seek "recourse" from BBI, only collateral in the form of the asset.
beppa in 2012, page-83
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