'I am not sure why Warnie says they don't have to accomplish a...

'I am not sure why Warnie says they don't have to accomplish a deal to resolve this by Feb 15, they only have to come up with A PLAN to do a deal by then'

Strictly speaking that's true. The banks insisted that Centro present a business plan that they would approve. That's the crux of it, will the banks approve it. If not, the loans are gone for Centro. Centro in essence have to have a backup plan sould the banks not agree to their new business plan. That backup plan has to ensure they aren't trading insolvently or they shut the doors.