keeping bnb afloat

Keeping B&B afloat

THE Babcock & Brown pendulum is swinging back sharply towards the company, with the local banks appearing to win the argument that receivership would destroy value.

The locals want to extend another $200 million, including interest due, along with increased due diligence from the banks' adviser, McGrath Nicol.

The company is due to make a statement early next week and as things stand this

will contain some good news with at

least a temporary stay of execution.


http://www.theaustralian.news.com.au/story/0,25197,24722088-5013408,00.html