  We critically discuss the recent observations of the binary system at the
center of the bipolar planetary nebula Henize 2-428. We find that the proposed
explanation of two equal-mass degenerate objects with a total mass larger than
the Chandrasekhar limiting mass that supposedly will merge in less than a
Hubble time, possibly leading to a SN~Ia, is controversial. This hypothesis
relies on the assumption that the variability of the He II 5412A spectral line
is due to two absorption components. Instead, we propose that it can be
accounted for by a broad absorption line from the central system on top of
which there is a narrow emission line from the nebula. This prompted us to
study if the binary system can be made of a degenerate star and a low-mass main
sequence companion, or of two degenerate objects of smaller mass. We find that
although both scenarios can account for the existence of two symmetric broad
minima in the light curve, the second one agrees better with observations. We
thus argue that the claim that Henize 2-428 provides observational evidence
supporting the double-degenerate scenario for SN~Ia is premature.
