people's republic of centro ..., page-9

Theon,

It's a tad bit different. More and more it is looking like BNB was a shell of a company from the get go and that the assets are tangled into BBIPL. I think it's not only the shareholders of BNB that are going to get nothing if it is wound down.

CNP/CER bit different. Real property; be it Residential, Retail, Commercial or Industrial underpins the value of the banking system almost entirely along with currency values and interest rate margins.

I think Glenn Rufrano knows what is coming. He will probably make another tilt for a better (much better) deal from the banks.

The impending vote is going to be defeated. That's my view. I think they didn't count on this. Remember they gave the syndicate 14.9% to cover a paltry amount of "fees" as though this was in the best interest of current shareholders. CNP had/has plenty of cash flow. They could have paid these fees from existing reserves.....They are buying back US Notes aren't they?

The Chinese guys know that to a degree Rufrano sold the shareholders out. If the dilution diesn't get completely thrown out the door, Rufrano is going to find that he is unemployed.