The CBA's actions are quite strange given that CNP/CER have not missed any payments whatsoever as far as I know.
The only way it makes sense is if the CBA foresee a big class action payout.....and don't want to be in the creditors list after that. I think the auditor, if anyone, is in line for a payout rather than CER/CNP but the CBA simply might not want to take the risk.
One could well ask why were not CER/CNP offered the chance to pay down debt at the rate it was sold to the hedge funds or even a small margin on top in the first place?
Blastoff
CNP Price at posting:
17.0¢ Sentiment: None Disclosure: Not Held
