centro secured creditor would prefer fire sale, page-22

bourbaki12 if you are trying to scare me then please provide some details as to the similarities between Pasminco and Centro....

**did all the other banks have to take a 'haircut' by allowing that one bank you speak of to bring the whole house of cards tumbling down?

**did Pasminco have a steady revenue stream at the time?

**was Pasminco making its payments on time?

**if Pasminco was primarily based in WA then did local politics play an interest in bringing it down?

On another note, if ANZ has decided to terminate Centro then why not come out and say so? why allow another week?
where's the logic in that?
and more importantly, why offer more than one week?

to me it looks like the start of more of those vicious rumours we were getting a few weeks ago by the hedge funds and the shorters....yes, they succeeded in creating havoc but GR has always been up front and i think most people will take today's announcement for what it is ...ie finalise discussions and sign off on paperwork within the next 7 days.
personally, i think the 7 days is the maximum time required and this w/end or Monday at the latest will be it.

and remember BOS are useless....spunk is what counts.