bnb administrators report - a must read, page-5

>What has it got to do with BEPPA?

http://www.theaustralian.news.com.au/business/story/0,,25925752-20501,00.html

"It also concludes that the BBL board may have failed in its duty to adequately disclose to investors the characteristics of the subordinated notes and the relationship between Babcock & Brown International (BBIPL) and BBL with regard to the subordinated loan. BBL holds 99.8 per cent of BBIPL, the main trading entity of the group."

This begs the question of what are these characteristics of the subordinated notes (BNBG, BNB010) that was inadequately disclosed.

Are these characteristics present in BEPPA?