how to restructure aej?

Just follow the BBI model. I am sure several of the posters here recall how the BBI restructure went. MacQuarie negotiated for several months with the interested parties until they narrowed it down to one party, Brookfield. Brookfield then entered into an exclusivity agreement and blocked out all the other players. The other jilted players then seeded the press with a lot of misinformation and half truths to try and panic the remaining shareholders. The hedge funds then entered and mopped up all the weak holders of the pref shares between 7-20 cents and then effectively tripled/doyubled their money wheh the restructure happened at 43 cents for the prefs. (loads of posters here sold their prefs after one or two posters "in the know" (who read the situation completely wrong) panicked and sold out way too early. A lot of tears before bedtime I recall).

Then Brookfields entered into an agreement to buy a half share in the jewel asset of Dalyrmple Bay and also took away have of that debt as well, then sponsored a very heavily discounted and steep rights issue to effectively take control of the company. Loads of other hedge funds and instos rode their coattails and participated in the full righs issue as well. A lot of money was made and the big boys engineered for themselves a half share in a great asset and entry into the rest of the assets at a big discount.

I strongly suspect this is going to happen to AEJ. GPG, by raising their stake to 19.9% by taking out most of the BNB shares overhang, are obviously going to be one of the parties who are prepared to stump up with the cash to support the rights issue.

Be patient here folks. The banks would not have agreed to a standstill in the debt unless someone has shown them what the end plan is. It will happen. Partial sale of assets and buyer supports a big rights issue.