If BNB goes down, can BCM get out of the management agreement or does it still need to fork out $45m? Note that AEP has gone to court to terminate its agreement.
My feel is that once the shackles of the management agreement are out of the way, the share price should recover. These agreements are an impediment to takeovers and releasing value in the companies. Not only that, the fee levels are legalised extortion.
