re pg22 of todays austrlian, page-42

apples,

Allco WAS meeting its interest payments, they are still not in dafult. It was agreed they would sell down their assets within a certain timeframe (same as CNP), except AFG beleived they couldnt acheive this. thus why they asked for a further debt extension.

They have about a month left to default, but i guess the directors decided to actually follow the coporations act and pull the pin before they go into default.


Some posters here really need to look beyond the problem of satisfying the banks.

If you belive CNP will survive, fair enough. Try and predict what will happen to the company after they satisfy the banks.

I see - no growth, no insto will touch it, even tenants might think twice before taking up a lease with CNP (well atleast the smart ones)