Needle I spoke with the trust today and they seemed to be guarded in giving out information but did say they were looking to hopefully contact note holders in the comming week or so .I asked about there idemity of cost which they agreed was there but have to consider the state of finances which i guess means they are looking into wether there is any there that could indemnify there costs ?They did say they were considering the time frame anouncements have been put out .I enquired as if they belived there was injustice or if they had a postion! which they wouldnt comment on which is understandable and gave no advice to any action on voting which is also understandable.I voiced my opinon on the fact that the trust is there to protect the note holders and also asked wether the company in bnb may have breached there prospectus guidelines by buying out the us exeutive and therefore making there guarentee void by in effect owning there own guarentee to the monies oustanding if in fact there prospectus was not defective in the first instance but then became so after issue by not having the us exeutive on board.ie in simple terms if you borrow money for a house loan and have a gaurantor and that gaurantor is no longer able to be able to meet the commitment of being so that you have an obligation to let your lenders know of this occurence.And also asked about the offer of tens cents which he didnt comment but mentioned the finacial report to be released will be interesting reading . .The receptionest had that oh no not another one when i asked to speack to someone regarding these matters of importance and said there had been alot of intrest. Also i pointed out that i belived there was lack of intrest from the company in share holders and note holders.
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babcock & brown limited