Correct me if I am wrong but wouldn't each banks security be...

Correct me if I am wrong but wouldn't each banks security be linked to a particular property, so Centro would only need that lenders approval to sell that particular property, as the proceeds from the sale would firstly go to the secured lender and if anything left over would go into general funds.

If this is the case and lenders have told Centro not to sell at reduced offer prices isn't that a clear sign that they are supporting Centro going forward, as they are acting like an administrator and managing the banks security in the property.

There is also time to get a supplement letter to shareholders in relation to voting on a Debt for Equity swap prior to the AGM.