By my rough calculation.
Total Net Assets at 30 June 08 was $2,632 million.
Today, the paper report BNB chalk up $5,400 million loss for the year 08/09
Which mean - $2768 million. since the last 12 month
Now, they currently owe noteholder $600m and the bank $3000m.
If, noteholders can put BBIPL into administation today. noteholders would get nothing, and the banks stand to loose roughly $2200 millions.
Unless us noteholders get offer a reasonable deal from the banks, i'd say we’d suicide.. I want to see these bankers bastards suffer.
BNB
babcock & brown limited
