The deal to noteholders was derisory. We got offered 10c for each $100 we were owed by BNB. I own 175 notes and was being offered $17.50 to waive my claim over the $17,500 in debt that BNB owes me. The $17.50 is worth so little that I am happy to run the risk of losing the whole lot in the hope that I might get an offer at some point that is a bit (or considerably) better than that.
I imagine many noteholders share my view; hence the vote against.
BNB
babcock & brown limited
