BABCOCK & BROWN LIMITED(BNB)

The liquidator warns shareholders of the risk of signing over their rights to a litigation funder, Bookarelli Pty Ltd, to pursue claims against the company. Any non-payment of the liquidator's costs of defending the litigation may result in cost awards against individual shareholders involved in the action.

A copy of the company's minutes documenting key decisions about the company's administration (where the administration is not under S.436E or S.439A) are lodged with ASIC.

The liquidator reports on their activities during the creditors' voluntary winding-up of the company.

A copy of the company's minutes documenting key decisions about the company's administration (where the administration is not under S.436E or S.439A) are lodged with ASIC.

A copy of the company's minutes documenting key decisions about the company's administration (where the administration is not under S.436E or S.439A) are lodged with ASIC.

A copy of the company's minutes documenting key decisions about the company's administration (where the administration is not under S.436E or S.439A) are lodged with ASIC.

liquidator reports that a large number of complicated unsecured creditor claims - he has agreed to grant an extension, the result of which is that the intended dividend declaration date of 24 August 2012 will be delayed until further notice - claims in relation to Babcock and Brown Subordinated Notes ("Noteholder Claims") are subordinated to unsecured claims and will be dealt with separately once the unsecured claims have been determined and paid. No further action is required by noteholders in relation to Noteholder Claims, at this stage

reports that the resignation of four directors (B&B's chairman Elizabeth Nosworthy, deputy chairman Pat Handley, independent director Ian Martin and chief executive Michael Larkin) are being investigated for a breach of the Corporations Act after resigning en masse from its board within weeks of the company going into administration

creditors of Babcock & Brown agree to place the failed asset management group into liquidation - reports indicate the Liquidators, Deloittes, intend to probe - the potential conflict of interests between the boards of B&B and Babcock & Brown International Pty Ltd, which houses the group's remaining assets that are locked down on behest of the group's banks seeking their money back - the possibility of inadequate disclosures to investors in its offer documents - a review of its risk management activities and the operation of its business model that was primarily reliant on debt funding - an investigation into whether it may have traded while insolvent before it failed

delisted at the request of the company

Babcock & Brown Limited (the "Company") will be removed from the official list of ASX Limited from the close of trading on Thursday, 18 June 2009, at the request of the Company, under listing rule 17.11

the company's listing on ASX is to be terminated as it is costly and serves no useful purpose now that shareholders have been advised that they no longer have an economic interest (see item immediately below)

a loss declaration has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued

the GPT Group (GPT) today confirmed that, as announced by GPT in February 2009, the asset management and reporting function for the JV will be transitioned from Babcock & Brown to GPT by 30 June 2009. The terms for this transition have now been agreed. This transition does not impact the accounting treatment of the JV GPT will not be required to consolidate the JV

the Administrators confirm that interest rate payments to BBSN and BBSN2 noteholders were suspended with effect from their appointment on 13 March 2009 - accordingly no interest will be paid to BBSN noteholders on 15 May 2009

the administrators are seeking legal advice regarding the resignations from the BNB board

the Noteholders Trustee reports that it has lodged a proof of debt (on behalf of all $A and $NZ noteholders) with the administrators

the administrators provide an update for noteholders and creditors

administrators advise they are relying on an ASIC class order allowing deferral of financial reporting (y/e 31/12/2008) until 13 September 2009

Babcock & Brown Capital Limited (ASX: BCM) today announces that it has negotiated a revised agreement with Babcock & Brown in relation to the termination of the existing Management Agreement

the Board and Management regret the loss of shareholder value and acknowledge the financial hardship this has caused investors - they also state that Australian resident individual shareholders who hold their shares on capital account (other than certain shares acquired through an employee share scheme), will generally be able to claim a capital loss equal to the reduced cost base of their shares in respect of their shareholding once the administrator or a liquidator declares in writing that there is no likelihood that shareholders will receive any further distribution for their shares - but they fail to draw attention to the possibility of being able to crystallise a loss immediately by transfer to a trust (deListed has processed thousands of such transactions via its "Sell Your Worthless Shares" facility since a Taxation Determination by the ATO in 2004

David Lombe and Simon Cathro of Deloittes are appointed as voluntary administrators - this never augurs well for shareholders - it will be a month or so before the extent of the damage is known

at a meeting today of New Zealand bondholders, they rejected the rescue plan, which would have paid them just one tenth of a cent in every dollar, in a move that forced the company to appoint administrators, who are obliged to run the firm on behalf of the bondholders - shareholders now stand to lose everything

Babcock & Brown Limited (BBL) has agreed to make each of the following documents available for inspection by noteholders at the locations set out below: - A copy of the Parent Subordination Deed between BBL and Babcock & Brown International Pty Ltd (BBIPL). - A copy of the BBSN and BBSN2 Subordinated Loan Agreements between BBL and BBIPL. - A copy of the BBSN and BBSN2 Subordination Deeds between BBIPL, the note trustee and BBIPL's security trustee. - An extract from the Syndicated Facility Agreement between BBIPL and its senior lenders. The documents can be inspected at the following locations: - BBL's offices at Level 23, The Chifley Tower, 2 Chifley Square, Sydney NSW Australia between 9am and 5pm on Wednesday 11 March and Thursday 12 March 2009. - Bell Gully, Vero Centre, 48 Shortland Street, Auckland New Zealand between noon and 5pm on Wednesday 11 March and 9am to 5pm on Thursday 12 March 2009.

the company is offering subordinated noteholders one-tenth of a cent for each dollar they invested to keep the listed company out of administration

company updates noteholders on the steps which Trust Company Fiduciary Services Limited as trustee for Holders (Trustee) has taken in connection with the Noteholder Meetings (meetings of Holders to be held on 13 March 2009) and to draw attention to certain relevant provisions of the Trust Deed

Babcock & Brown Power (ASX:BBP) today announces that the terms of $381 million of debt owed to Babcock & Brown (ASX:BNB) have been renegotiated

Babcock & Brown Wind Partners (ASX: BBW) has today submitted an offer to Babcock & Brown (ASX: BNB) to acquire its Australian and New Zealand wind energy project development assets, its US wind asset management business, and its minority interests in three of BBW's existing wind farms. The offer involves a total cash consideration not exceeding $30 million

an explanatory memorandum has been prepared for the information of Noteholders in connection with the business to be conducted at the meeting to be held on friday, 13 march 2009 at macquarie graduate school of management, level 6, 5157 pitt street, sydney, commencing at 4.30pm

the company gives notice that a Trigger Event has occurred in relation to the subordinated notes - the Trigger Event occurred because BNB's Ordinary Shares were suspended from trading for a period of 20 consecutive Business Days - as a result of the Trigger Event, note holders may request Exchange or Repayment of all (but not a smaller number) of their Notes by providing an Exit Notice - For further information please contact: Kelly Hibbins Babcock & Brown +61 2 9229 1800 kelly.hibbins@babcockbrown.com

company advises that a Delisting Event (triggering requirements which ultimately lead to Babcock & Brown subordinated note holders becoming entitled to request repayment) has occurred following the suspension from trade of the Babcock & Brown Limited ordinary shares for a period of 20 consecutive business days

BNB today advises that it has reached agreement with its banking syndicate on a restructure of its corporate debt facilities and a revised business plan which will facilitate the reduction of those facilities - the key points of the agreement and revised business plan are 1) A management-controlled program, led by CEO Michael Larkin and the current senior management team, to sell down assets in an orderly fashion over a 2-3 year time horizon to reduce debt and 2) a restructure of Babcock & Brown's existing corporate debt facilities, with all interest payments and approximately A$2.12 billion of principal repayments to be on a "Pay If You Can" basis - the Babcock & Brown Board believes that there will be no value for equity holders and no or negligible value for holders of the Company's subordinated notes after it has implemented the revised business plan

company advises that its discussions with its banking syndicate regarding a revised business plan and balance sheet restructure of Babcock & Brown International Pty Ltd are continuing - the Board acknowledges that in the current market environment and based on continuing discussions with the banking syndicate there will be no value for equity holders under the revised business plan and balance sheet restructure of Babcock & Brown International Pty Ltd and negligible or no value for holders of the Company's subordinated notes

securities suspended from quotation - the reason for the suspension is that the Company has not yet received a final response from its lenders with respect to the proposal submitted to them and referred to in its request for a trading halt dated 7 January - the Company is continuing discussions with its lenders - it is expected that the suspension will end when the Company is in a position to make a further announcement in relation to those discussions and with information regarding the final response, which is expected to be during the week of January 26

securities reinstated to quotation following agreement with the banks

requests an extension of its voluntary suspension until 3 December

Lend Lease Corporation ("Lend Lease") confirms it has completed the acquisition and novation of the management rights for Babcock & Brown Communities Group ("BBC") from Babcock & Brown Limited ("BNB") for A$5 million, as also announced by BBC earlier today a - a further A$12.5 million will be payable to BNB if BBC securityholders approve the Lend Lease proposal at BBC's Extraordinary General Meeting (EGM) in late December 2008

Babcock & Brown Wind Partners (ASX: BBW) is seeking to negotiate further changes to its relationship with Babcock & Brown (ASX: BNB) to maximise value to BBW securityholders - as part of this process, the Independent Directors of BBW submitted a proposal ("the Proposal") to BNB on 24 November 2008 to terminate the Management Agreements, internalise BBW management and acquire certain assets from BNB - the Proposal involves a total cash consideration to BNB which BBW believes represents fair value - in response to the Proposal, BNB has expressed a willingness to enter into discussions with BBW on the Proposal

securities suspended from quotation pursuant to Listing Rule 17.2 - the reason for the suspension is that Babcock & Brown is still seeking to resolve the dispute with a bank, which holds a deposit of a material amount, relating to the release of that deposit - the company is continuing discussions with its banking syndicate in relation to a restructure of its corporate banking arrangements - it is expected that the suspension will end when BNB is in a position to make a further announcement in relation to those discussions and negotiations, which is expected to be early during the week of December 1

we understand that on or about this date the company undertook, proposed to undertake or was the subject of the following corporate action: - Scheme of Arrangement - this corporate event may appear elsewhere in this company record

we understand that on or about this date the company undertook, proposed to undertake or was the subject of the following corporate action: - restructure - this corporate event may appear elsewhere in this company record