The little bank knows that if they bring down the deck of cards, that they may not get first bite and will lose a chuck of their capital. Perfect example are those GULLIANI Bond Holders in the US. Although they were not that content in the beggining that soon saw the writing on the wall (a la the stuff above). Can't remember if they were unsecured bonds either.
I think the Australian banks know they will have a better chance with RUFRANO. As someone pointed out as well - CNP has not been in a position that it can't pay the interest. I wouldn't risk bringing down the house if ongoing interests payments are still being met and the underlying assets are still there. Thats the rational opinion.
CNP Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
