to sell or not, page-3

I think a number of the top 50 have sold down part of their holdings a number on your list have notified changes but BBG could not amend details on a daily basis so many of those holdings will be incorrect particularly for institutional holders TIAA, Perennial, Bailey, Maple Brown, Templeton, Macquarie all have different holdings as notified.
Dont think any of the institutional holders would share their thoughts on the forum.
The top 50 shareholders control more than 70% of the capital and have done so for a long time. Any major change for billabong will require a 75% majority OF VOTES ACTUALLY CAST to be approved. The remaining 20000 plus shareholders wont get all that much of a say and their votes wont really make all that much of a difference to the outcome . Institutions generally support the incumbent Board but may back the debt holders if it is in their interests to do so. Not being silly that is just how it works.
It is certainly not easy for many people to decide what to do and which eay to go. I am not giving any advice and frankly no one on this forum should be giving out any sort of advice. If and when you get the facts then it is up to each one to make his or her decision as to what to do. It is too hard for me to call at this stage. Good luck with whatever decisions you make.