investors make joint bid for centro, page-6

We need to distinguish between CNP and CER. CNP is basically insolvent with negative NTA, bankers may even be prepared to accept less than 100% of their debt (some has already been sold at 50% face value)just to get rid of CNP. If CNP shareholders think they are going to get anything back from CNP sale then their in dreamland.

CER is in a different situation with a positive NTA. Sale of assets, even at book value, would still leave the shareholders with something.

Journos cant make this distinction but shareholders should.