BNB is the centre of very lucrative set of management contracts supplying services to the listed/unlisted/private partner satellites.
- a slow process of releasing the reins whilst unwinding debts protects the banks most.
- there is actually some prospect of new capital being introduced to give greater security to the debts
- interest payments are being met
- asset sales are being made
The only circumstance I can see justifying receivership is:
- if the BNB Directors lose their nerve due to their perception of liability
- there is evidence of fraud
BNB
babcock & brown limited
