lets talk about euroports conditions precedent

ok so what I know is that on June 30 there's a deadline for the euroports sale. A conditions precedent has to be satisfied, otherwise BBI has to repay the 35m Euros deposit. BBI apparently doesn't have the cash for the deposit.....

Is this all correct, is there any hints to what is most likely to happen, any further information on details of the conditions precedent? Any idea where they spent the 35m Euros?

There's been alot of threads talking about the technical analysis of BBI and how it's about to shoot up, but a read of this thread from not long back:
http://www.hotcopper.com.au/post_threadview.asp?fid=1&tid=887864

is like a splash of cold water. This is pretty critical as far as I can see.