something just clicked, page-11

"A charge over the assets means that the banks would come first regardless of any take over offer of any kind from a consortium."

Doesnt that mean when centro pulls assets for sale from market its coz BANKS dont want it to happen. At the same time they want to reduce the gearing to reduce risk.

To me this implies SP means nothing and BANKS ARE WITH CENTRO to pull it through this hard time it needs time and BANKS WILL give that.