The BEC market hasn't been tested with much volume and is so...

The BEC market hasn't been tested with much volume and is so illiquid the BEC SP is really irrelevant, whether it's 0.2c or 2c. Same with BECG. So monetizing small insignificant holdings is really not a favourable option (except for the bottom feeders).

"why would noteholders (including myself) agree to convert at 2.5 cents when the on market price is only 1.5? cant see the deal getting approved- maybe the end ????"

Because you'd rather have 2.56c and 25.4 BEC in your hand than convertible notes worth nothing if the restructure isn't approved. Unless as freakonomics says you sabotage yourself economically for the perceived pleasure of inflicting spite.

I reckon when the banks get 95% of the outstanding shares it would be MUCH easier to sell the company to a prospective buyer and IB's would be more interested in implementing a permanent solution due to majority ownership being in the hands of basically BOSI and ACR.

Have some foresight, inner-city development and retirement are the coming boom industries for 'large/retiring Australia'.

IMHO DYOR