please explain, page-2

they are currently trying to sell properties in a depressed economic climate
i haven't seen a combined book value for all of their assests including goodwill, but if people start losing their houses due to decreasing loan to value ratios, where will the money come from to buy businesses?
also, if it goes into admin, there is an order of who gets the slices of the pie; i think you will find that shareholders are quite a way down that list.
so now you can see that currently the centro situation is closely tied into the results of the US corporate bail out.

hope that helps.