>Does that mean the fate of BNB is up to the note holders?No,...

>Does that mean the fate of BNB is up to the note holders?

No, BNB is as good as dead, with this proposal.

The only alternative, for BNB ordinary holders is a special general meeting, sack the board. New board has instructions to put BBIPL into administration. New board puts BNB in administration.

The fight begins to see who can control the administration.

BNB ord holders have nothing to lose in this ... there prospects can only go up - the banks, with present board and management collusion, have stacked the decks against the ord holder.

This might be a fair an reasonable call. But given that the guidance on the '08 half was for a increase in profit - people have a right to be furious!!