Babcock & Brown Limited was placed into voluntary administration on 13 March 2009.
The appointment of administrators to Babcock & Brown Limited is not expected to have any material impact on Babcock & Brown International Pty Ltd (BBIPL) the main operating and asset owning entity of the Babcock & Brown Group. BBIPL will continue to operate and will proceed with the orderly realisation of assets over an approximate 2-3 year time horizon to reduce debt.
The management team will focus on ensuring that the value of assets and business platforms is preserved during this process and all assets and businesses continue to be managed appropriately and that all legal commitments and regulatory requirements are met.
Trading in shares in Babcock & Brown (ASX: BNB) and the Australian and New Zealand listed subordinated notes is suspended. Securities will be delisted from the ASX on 18 June 2009. Securities will be delisted from the New Zealand exchange on 25 June 2009.
Further information for subordinated noteholders and shareholders can be found via the buttons below.