this might be interestingThe Trust Deed also contains provisions...

this might be interesting

The Trust Deed also contains provisions dealing with, among
others, the following matters:
• the power of Babcock & Brown to issue BBSN
in accordance with the Trust Deed and Terms;
• the Trustee and Holders are restricted from:
- issuing any statutory demand against Babcock & Brown;
- applying for liquidation, Winding Up or dissolution
of Babcock & Brown;
- enforcing any execution to, on or against any assets
of Babcock & Brown;
- applying for the appointment by a court of a receiver
to any of the assets of Babcock & Brown;
- exercising any set off or counter-claim against Babcock
& Brown; and
- appointing any administrator to Babcock & Brown;



so it looks like we don't have the right to force bnb into administration or recourse to any of bnb's assets.

i can't understand how this is possible. if the subordinated notes are a debt of babcock, and we serve a demand on babcock to pay full face value, and babcock has enough assets to pay them back, how can they get out of it?

if babcock has sufficient assets, we don't need to rely on the bbipl guarantee.

they say that payments on notes are completely subordinated to the senior debt. but from my understanding we are dealing with two different companies - bnb and bbipl.

the senior debt is a debt of bbipl, not bnb, so why should bbipl and the banks get priority over the assets of bnb?

it seems babcock has done alot of trash talking to scare us thinking we have no rights.

me thinks they may be in a spot of trouble.