The choice is either:
a) I pay 0.32 for all outstanding bonds given there have been no payments from BS&T for over a week, or,
b) Everyone waits to see if the funds become available and I pay 1.28.
Choice:
c) pay 0.32 dividend to each bond holder. If and when BS&T returns the loaned money do a buyback to bondholders for 0.96 per bond.
That is an option although outside the bounds of the contract. (and if GLBSE ever comes back online)