actually the noteholders can already furnish an exit notice as...

actually the noteholders can already furnish an exit notice as the shares have been suspended for 20 consecutive days. The problem it seems it that the assets are in BBIPL which guarantees the notes but the notes themselves (and the shares) are issued by Babcock and Brown Limited. Noteholders can demand repayment now, won't get paid, can then put BBL into administration but that won't get access to assets in BBIPL nor effect BBIPL in any real way. Not looking good I'm afraid.