The uncertainty could delay a resumption of trading until tomorrow, The Australian reports.
The rescue proposal involves advancing the extra funds and forgiving interest payments due, to give Babcock an extra two months to sell some assets.
The banks' representative, McGrath Nicol, is operating inside the company to ensure commitments are met.
BNB, the head stock company, has about $6 billion worth of assets in its own right, including $2 billion of real estate, European wind farms and US ethanol ventures.
The immediate aim is to sell assets, beginning with the European wind farms, to raise roughly $140 million required to pay Germany's HypoVereinsbank most of what it is owed.
Read more on this story at The Australian.
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