Judicial Leeway on Approving Plan We appear to have two clear objections to the proposed reorg plan for Yellow:
1) The banks want to be made whole.
2) The convertible debentures want to be treated the same as other debt holders.
In Canada, would a judge approving a reorg plan have the ability to rewrite key parts of the plan, as he might in a bankruptcy? I am guessing that probably the judge is limited to approve or not approve the plan, but not to change it?