Babcock plan to buy time
Tuesday, 27 January 2009 | The Australian Financial Review | Karen Maley
Babcock & Brown is asking its 25 creditor banks to swap more than half their debt into a type of equity as part of an audacious restructuring plan aimed at preserving the troubled investment bank as a going concern while it sells assets.
Hmmm, I like the sound of this ... audacious!!
BNB
babcock & brown limited
