the board regrets oh really

“The Board of Babcock & Brown would like to take this opportunity to reiterate
their deep regret at the loss of subordinated noteholder value. .They accept that
the restructure proposal delivers little or no value to noteholders but believe that
the restructure represents a better outcome for noteholders than administration.
If an administrator is appointed to BNB before 15 March 2009, we do not expect
there will be any return to noteholders (including those that have submitted exit
notices). However, the restructure, if approved, will ensure that the continued
existence of the notes does not cause BNB to be insolvent and provides the
opportunity, however remote, to participate in a recovery if market conditions
improve, while the offer to acquire the notes will allow certain noteholders to
receive an amount, albeit negligible, for their notes.”


My reply..

Noteholders & Shareholders also regret that if BNB is put in administration then the board will be out of a job and will no longer be able to receive big bonuses & steal from the company. Which in turn will make things more transparent and hopefully out of that noteholders might receive some back, however remote. If market condition improve.

The board stab investors in the back, now it is investors time to pay back this compliment.