This should apply to most Linux distributions just incase you get into trouble or wipe out the defaults by accident.
# reserved values
It sounds like this is corrected in later versions of the OpenVZ kernel but Iam not sure, it may also be that a much newer kernel is needed and Centos may not have a recent enough kernel.
*Debain 7.0 however does work fine as a temporary fix or work around.
Debian 8 OpenVZ no IP and networking not working:
lo Link encap:Local Loopback