It might be possible to force BBIPL into administration now, but even if it's not, on 15 November 2010 there is a reset date on which the holders of BBSN notes (BNBG) can submit an exit notice.
If B&B has delisted, Exchange won't be possible, so note holders will get their $100 or BBIPL will go into administration. The banks don't want that, because that will probably terminate the management agreements with the satellites. So I'm expecting some kind of offer to BBSN holders at some point.
BNB
babcock & brown limited
