jpmorgan debt auction!, page-6

Easy negative equity of $2plus.

Last brief update suggested further falls in property valuations

Class Action on two fronts, with Cross claims from PWC

Hybrid Securities issued to the Lenders which would dilute the company by 90%

Rising Australian dollar eating away at the small but necessary overseas profits

Occupancy rates of 87% in the USA business.

Not sure if you need more reasons.

The only reason why someone would stay in this stapled security is for:

1) The writeup in valuations.
2) Continuation as a going concern
3) Extension of maturing debt at competitive cost in Dec 2011

IMO I believe Centro in both entities are selling out at exactly the wrong time. Future charts will reflect this.

They have no choice as banks have a gun to their head.

This security is not for the faint hearted. Lots of unknowns still