>Enumerate, can you please take an educated guess as to what the "derisory" offer might be? Others as well...
It is a very simple equation.
The banks have there orderly administration courtesy of their pet poodles (formerly known as BNB directors).
How much impairment do they expect between what they know they can get from the position they have and the complete chaos of an administration.
They now have all the pieces in place. They are looking to control events, even in a formal administration.
The more the BNBG holders organise and stir up trouble ... the more this likely impairment will be. If there are letters to the Trustee, ASIC, the Board (not that they have demonstrated any ability to focus on their core obligations) ... then ... perhaps, the bankers will view the potential for further impairment as significant - hence their offer will be better.
Right now - I would rate a derisory offer as 0 cents on the dollar - cash - and some bogus "dreams are free" subordinated debt position behind the mountain of "restructuring fee" debt.
The time to do this is NOW. It will be "done and dusted" by the 15th of March.
In turn, this may temper the completely derisory offer we are about to receive.
BNB
babcock & brown limited
