"it will take years and years for CNP to trade out of situation if they can at all"
There is nothing to trade out of. Either they get new financing, sell some assets or go into receivership. Trading is not the problem.
"commercial property in the states has crashed or is about to"
Centro haven't defaulted. There is sufficient cashflow to service their debts. Is commercial property the other shoe to drop? I don't think so. Commercial property loans are generally subject to higher due diligence and insured. Centro in the main owns shopping centres with the largest tenants often supermarkets selling staples or otherwise general consumer goods which are cheap. Everything is cheap for consumers now except residential property. People might abandon their overpriced McMansions but they still have to eat.
"Relisted all over again as Ziniflex with banks as major shareholders."
If Centro goes into receivership the receivers will auction the assets and distribute the proceeds to creditors. The banks have no chance of relisting.
Your comparison between Pasminco and Centro doesn't stand up to scrutiny.
BTW it is convention to use the other party's exact words inside quotation marks.
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
