One other point...I think the banks and whats left of BBIPL...

One other point...I think the banks and whats left of BBIPL management will hold firm, and there will not be an offer to noteholders. (contary to that news story from sometime back).

I would like to see administrator/trustte start talking to a litigation funding group such as IMF.

BBIPL have openly stated that funds are not available to pay their creditors (ie noteholders). How can that not be trading insolvent?

Instigate action to put the company into administration....and flush out all the wrongs here, plus at what commercial cost to the banking group ?...who are selling off $6.5billion worth of assets.

I would suggest that additional resourcing will be required....ie an IMF to take the necessary legal actions.