smh article, page-2

It's now a very simple risk/reward situation.

Scenario 1: BBI sells 100% of DBCT for $2.6Bn and clears $1Bn of corporate debt leaving $300M owing at the corporate level. That's manageable and ensures their survival. That gives them breathing space to ride out the global recession and time for Euroports and PD Ports to bounce back.

Scenario 2: BBI cannot sell DBCT, PD Ports suffers severe impairment triggering a breach of debt covenant, Euroports deal falls through. Administration looms. BBI probably worthless. BEPPA value questionable depending on how quickly the liquidators sell the assets.