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The idea of an orderly sale of CQT shares is a non starter. ANZ loan department is not in the business of of holding illiquid stock in the hope it will rise. That is not their mandate. Hence, they are looking for anyone will to take 27m CQT shares off their hands immediately so they have to discount around 20 to 25% to get buyers. It is the same with distressed real estate. The banks just dump it on the market at any price and move on. Their are good economic reasons for this as it cleanses the market and allows rebuilding of confidence to start. The alternative is a long period of economic downturn. I think CQT will recover quickly from this fire sale and the price will snap back to reflect fundamentals. In the meantime some lucky bugger is going to pick up a swap of shares for 30 to 35cents.