BNB is the centre of very lucrative set of management contracts...

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