Sorry gentlemen, but I do not think you understood my post. It...

Sorry gentlemen, but I do not think you understood my post. It will only take ONE bank out of the many that Centro owe money to, to say enough is enough. There are some overseas banks that are owed less than a few hundred million each...and they may be willing to accept less than half of what they are owed, assuming that liquidation will bring at least 50% of book vale. They may well be prepared to lose a hundred million or so...that is not a billion dollar loss. So, unless some other bank or banks get together and are willing to pay them out, it would be curtains for Centro...and even if some of the bigger creditors agreed to pay another smaller creditor out to keep Centro afloat for now, then what? How long do you think it would be before another, and then another, of the smaller creditors pulls the pin, and says to the banks that are owed huge numbers that they want to be paid out too. Asset sales, and assets sales now, are the only thing that will save Centro, and they have not been forthcoming. Failing that, only an equity for debt arrangement that has been touted here and there would satisfy the banks...and if that were to occur, dilution would be so phenomenal that existing shareholders can forget about any value in their current stock.

If Centro had some sort of solid offers on the table at all, then they would at least have some sort of bargaining chip with smaller cerditors, but they have nothing.