why banks dont give long term extension, page-19

ptialv,

Myself and a few others have referred to what's called "marking to market". This means if enough assets of Centro's are systematically sold at a discount to book value, then others Like Westfield, Stockland etc may be forced (stress on the word MAY) to mark to market or revalue down their assets particularly those similar assets.

That being the case, Westfield's gearing would not be 30%.

TP, would also appeciate your comments here. I am by no means an expert in this area. This is very much an Accounting type question/situation.