hybrid debt/equity swap , page-73

Good Thread so far guys - very interesting.

I just thought Id add my 2c

If CBA or any bank for that matter pulls the plug and forces CNP into Administration, their assests would surely be capture by other businesses at a far less than desireable price.If this happens it will then wipe alot of value off other shopping centres/warehouses etc forcing more companies into the same situation that CNP find themself in now. The company that would suffer the most (I would think) would be Westfeild will a large amount of their euqity wipped from their properties. For CBA this would leave highly vunerable to lose even more money. Taking this into account I'm sure there would be plenty of other businesses with large writedowns in property value with loans from various banks...

Currently there is alot of talk going around that the credit crisis seems to be easing, however if CNP fail to reach an agreement I believe that it will open up another downward spiral in the property market which everyone will stand to loose...

As I mentioned this is just my 2c.