article the australian today, page-29

MAK going great thanks solarx. Havent seen you on the MAK thread since you were found out wanting with some ridiculous comments. Revisiting soon?

From my research and who knows if its true:

"ANZ has about $500 million in unsecured loans to Centro, making it the company's biggest unsecured creditor among the Australian banks. The bank's loans to Centro total about $1.2 billion. The Commonwealth has similar loans with Centro, but its unsecured loans total $300 million. NAB has $1.1billion in total loans, of which $350 million is unsecured. "

It appears from this that more is secured than unsecured. If so then I'd say the banks have the upper hand. They could easily pull the loans, send CNP to the wall and sell off the assets under the secured loan arrangement. I dont believe that this is the preferred option but if push comes to shove they will be grabbing what they can.

To me the situation is very precarious and is probbaly why the sharepriceis now hovering around 15.5c. But that's just my opinion.