Let's put it this way: In my opinion -- and it's only an opinion -- every share that you buy at CAD$0.70 or thereabouts, you will make money on.  But here are my assumptions, stated in the most conservative way.

1.  Through the restructuring they eliminate approximately $2B in debt;

2.  The book value of the company immediately jumps by at least $2B dollars to something in the range of $600MM, but, more important, the company is now a going concern, with no threat of bankruptcy and EBITDA in the range of $350MM per annum.  Enterprise value therefore jumps, possibly as high as $2B;

3.  We do not know how much equity will go to the forgiven debt.  That is the big unknown.  I think that it will be somewhere in the range of 75% to 80%, but let's, for current purposes, say that it is as high as 90%.  They will therefore have to issue about 470,000,000 new shares, for a total of 522,000,000 shares.  The result is that, at book value and nothing more, shares will be worth and likely trade at $1.15 (600,000,000/522,000,000);

4.  I think that that is a pretty conservative scenario, and it says that any share purchased in the CAD $0.70 range should be in the money, almost no matter what.  Now, looking at the other end of the spectrum, let's say we use enterprise value and not book value, and the forgiven debt gets only 75% of the company.  Then they issue only about 160,000,000 new shares, for a total of 212,000,000.  In this case, the resulting value would be approximately $9.43 per share, so that is where the price should go.  And if they don't screw up after that and keep making money, it will go up from there.

Of course, I am assuming no negative surprises, such as those that these guys have been prone to in the past.  But it was largely a different management team then, and I believe that that stuff is all done with.  And if my worst case occurs, and the forgiven debt gets 90% of the company or more, I would consider it a betrayal by management, with the possible result of a class action or intervention in the restructuring proceedings.

Now you have to decide what you want to do.