doesnt look good for bnbg holders, page-5

Instead of buying their management contract back BBI should use the money to make an offer for the BNBG notes.

I may be cheaper to use the noteholder debt to push the entire BNB/BBIPL complex into administration - a "get out of gaol free" card.

Then, BBI could sue Larkin and the Banks for oppression and maybe even get their money back (if the damages against the banks were ranked higher than bank senior debt in BBIPL).

Risky move - but the rewards are huge.