Centro strategy gives banks a "game of Jenga"

05/14/2008 | Wall Street Journal, The

Centro Properties Group is using a complex structure to fend off creditors that otherwise may have chosen to liquidate the troubled shopping mall owner. "Centro has been like the game of Jenga: 'Watch the tension mount as the tower builds,'" said Andrew Parsons, managing director of former Centro investor Resolution Capital Ltd. "Right now, the banks don't know which piece they can pull out without the whole thing falling over."

View Full Article in:

Wall Street Journal, The

Published in Brief: