possible recapitalisation scenario, page-17

well "recapitalise" usually means, the equity in the company has been diminished ( by operating losses or the downvaluation of assets for some reason ) to the point where the company does not have enough capital to continue.

In Centro's case, it means that the value of the malls has been downgraded relative to the debt, so the debt/equity ratio has become too high.

Recapitalise can be accomplished by a very large rights issue to existing shareholders, or a very large placement to one or more new shareholders.

Quite a few small companies go broke, someone buys it for a very small amount of money, starts a new business with it and re-lists it with new investors, and usually the old investors are still in there too, but there shares have been consolidated to a very small amount. Examples include ESI and supposedly CRS at some point.