Sandlion,BBIS a wholley owned subsidiary of BNB is the...

Sandlion,

BBIS a wholley owned subsidiary of BNB is the management comapany of BBI.

However, BBI has its own independent board who has control over many of the day to day running of BBI. BBI cannot presently internalise the management due to the conversion problem this may cause under the Beppa trust deed. For all intensive purposes BBI is a stand alone entity. Its asset, liabilities,and operations are totally independent of BNB. there are no cross guarantees or joint covenants.

Unfortunately, many see them as connected. The fate of BNB does not impact BBI and many here actually view the dislocation of the relationship as positive for BBI. However, I personally take no comfort from the loss that may ensue to BNB holders.

Hope this helps. Please read through the posts as these issues have been throughly discussed.