cnp is already in administration

Have a read on following article. If centro is alredy virtually in administration, then why won't Banks extend & let it recover until property prices recover.

http://www.crikey.com.au/Business/20080915-Centro-failure-more-likely-as-global-finances-crumble.html


But for all intents and purposes Centro is all but in administration now with the management looking after the company and being funded by the banks and from cash flow from the shopping centres. Administration would force the banks to start provisioning for the loan. Some, like St George, might not like that.