CNP is still showing nearly $3.7B in net asset value, even...

CNP is still showing nearly $3.7B in net asset value, even though the MC is less than $600M! So to get a fair sp:

assets are $26.6B,
a "fire sale" gets only a 75% of true asset value,
sale/other fees are 5% of total returns,
$17.9B owed to lenders and
there are ~1B fully diluted shares,

then:

Proceeds
$26.6B * .75 = ~$19.9B

Fees
$19.9B * 5% = ~$1B

Net proceeds from all asset sales:
$19.9B - -$1B = $18.9B

Net after repaying lenders:
$18.8B - $17.9B = $900M

sp:
~$900M/1B shares = $0.90c

Now if a sale is for the business, then up to 25% more could be achieved. However, the problem is that either way liquidation will take 12 months and probably a lot more, so it is not in the SH interests. A one time sale of the business would be better, however it too would take a while.

Better to recover from some financing difficulties, than go down either the above paths - even the banks know that...