I'm with you apples. We know the banks are not putting pressure...

I'm with you apples.

We know the banks are not putting pressure on for a firesale of assets. Centro outlined an orderly plan right from the start and (to their credit) have stuck with it all the way through: sell CAF, sell CAWF and investigate options for an equity injection.

A capital raising at these levels would be a disaster and the company will be aware of this.

The other issue is finding an institution to underwrite the deal. Good luck. No institution is going to want to do this full stop as the risks are far too great. Look at HBOS in the UK to see what can go wrong.

I would say the more likely course of action is a) finding a cornerstone investor who injects capital in return for a stake in the company or b) a takeover. Either of these would get a very big thumbs-up from me and I suspect many others will agree.