Thought I would add one more dimension to all the speculation. Australian Shopping Centre Ownership is extremely concentrated with only a few major players: Westfield, Stockland, GPT and one or two others. Liquidation/administration is a disaster for the banks on another level. Any administrator sale of assets to vultures would need ACCC approval most likely to either one of the above, particularly Westfield which owns 1/3 of all Shopping Centre property in Australia.
The boat needs to stay afloat. In fact the banks are in more of a pickle than Centro.
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