"nursery, I am missing the reasons behind your strong preference...

"nursery, I am missing the reasons behind your strong preference of having the lenders controlling CER instead of CNP. As a shareholder of CER, I would be more comfortable having CER associated with parties with property experience than speculative hedge funds and investment bankers."

When we had CNP controlling CER they used CER as a cash cow. They overcharged management fees, They used CER to back Superllc and look what that has cost us.

Our new "owners" are firstly the current shareholders and a new group of shareholders that jointly will own over 50%. They will be the former lenders to CNP. I guess that 100% of the shareholders in the "new" CER will be represented by a board chosen for their ability to manage the business so that it is run profitably for all shareholders and not just the 50% represented by those former lenders who will want value in the company so they can sell down the holding for as much as they can possibly get.