The BNB announcement still leaves it a possibility that BNB may go into administration if the note holders do not agree.
1. I wonder where that would leave the BJT management contract as the responsible entity is a direct subsidiary of BNB not BBIPL?
"The Responsible Entity of BJT is Babcock & Brown Japan Property Management Limited, a subsidiary of Babcock & Brown. Asset management services in Japan are generally undertaken by Babcock & Brown Co., Ltd, also a subsidiary of Babcock & Brown."
2. The BNB senior management is supposed to stay on the undertake the asset sale. Would that include Eric Lucas, Head Global Property (how many of the BNB assets are in property)? Actually BJT needs him full time getting BJT through the problems ahead. He also has a very substantial shareholding to safeguard bought at far higher prices than prevail today.
BJT
babcock & brown japan property trust
