You are quite correct warhorse. There are two possible...

You are quite correct warhorse. There are two possible outcomes.
Lets look at Outcome 1 Almost a third of debt has been factored off to those who will try to make a profit on the deal. I knew about HSBC but CBA suggests to me the McGrath Nichol report has come in not too favourably and CBA was suggested as the instigators of the report. So 2 banks have become scared by,what they are seeing the others will probably follow suit and discount their holdings as well. Naude and Co will hold off till the very end before committing one way or the other and the noose is tightening every day this drags out so shareholders in my opinion can expect little ior nothing from any proposed cash for equity refinancing deal from either PE fund. If the Board agrees to a funding deal (which it still may say no to) the suitors will simply carve BB up and sell it off profiting very nicely in the process getting exactly what they want and,always have wanted for nothing. Launa needs to act now and do what they are about to do but my guess is that she will do the deal and keep her job on a reduced responsibility package. The brands will disappear to their new USA home and Australia will become just a sales outlet. That surmises that Outcome 1 will get over the line. Outcome 2 is a rather different story. There is no guarantee of a refinance deal being acceptable so the recent spike was a bit of profit taking and we will see the SP Start to fall back down again sub 10 cents. The key thing will be banks offloading debt and if that suddenly gains momentum followed by any negative reports about anything BB is looking very shaky and unstable. Warhorse makes a point that lenders are prepared to accept lower expectations of getting 100 cents in the dollar on debt repayments so why would they not push for Receivers to sell off everything before its too late, those brands have some value and those looking and others would be prepared to bid for them. It sure makes more sense than continuing on losing money on a DAILY BASIS by keeping trading from loss making stores that are not being turned around, whatever small profits they are making is being eaten up by ridiculously high costs of selling...the morey they stay open the more they lose ...
someone needs to do the maths.....Sell properties now....if you dont Naude will.......The company needs $600 million to put it on a solid footing....and pay off debts and liabilities... Where is that sort of money coming from.
Naude and others will not lend it INTEREST FREE FOR FIVE YEARS.
They wont raise $600 million by selling everything off either so what emerges will be a SMALLER BILLABONG or NOTHING. Launa youbare like a football coach watching your team get slaughtered and NOT MAKING A MOVE........Come on Coach....Make a move...do something.