As I heard the Lateline Business report on Centro, all lenders...

As I heard the Lateline Business report on Centro, all lenders except one have agreed to an extension. That one is a secured creditor and becuase they are securedas it may be in their best interests force a liquidation of the company.

There is a disturbing development as it has parallels with the case of Pasminco:

"Pasminco came within an inch of negotiating a standstill agreement with its bankers. It was only the inability of one of the smallest banks to agree with the remaining 38 banks in round-the-clock negotiations in September 2001 that led to the administrators being called in."