cnp survival, page-9

The banks just cannot afford such a reality shock on all commercial assets should Centro go down.

Their necessary provisioning for write downs would be monstrous.

Better for the banks to take the write downs on commercial property by way of a series of more conservative valuations than an out and out blood in the streets suicidal sales proces.

Remember, liquidators will cover their ars@s by disposing of properties via a tender or auction process where the only bidders will be the jackals.