mc now 380m, page-17

Understand but that is not necessarily the case here. The banks are owed the vast majority of the money and there is no way they would force a 20c in the dollar solution - they would stand to lose over $15B - when with some patience they could get most - if not all of it back.

I would choose to get most of it back - and would extend to the client if the assets were good.

Most commentators see Centro assets as being "high quality" - but I guess we will see soon enough...