PtialvI think thhe banks have needed as much time to digest what...

Ptialv

I think thhe banks have needed as much time to digest what has eventuate from DEC 07.

Their expectations as Centro's was that they could market propoerties to reduce debt levels...however as we have seen no one is prepared to pay reasonable dollars (or able)in current market conditions.

They played the same game with AFG, however, their asset class is slightly different and have reduce about 2/3rds of their debt.

To answer your question I think they realise now that Centro has made all efforts to sell assets in coordination with financiers guidelines but through market conditions have not (remembering the banks refused sales/equity injections)

Im not sure the banks will inject such money...but I believe a favourable extension will be given.