RE: tellier needs to think long and hard yober, if the recap fails, then the MTN's trading prices will drop. Possible the banks will extend the credit lines and allow YPG to buy the MTN's on the open market. The threat of bankruptcy will drive down the prices. Just imagine if the banks allowed another half billion on the credit lines with the explicit purpose of buying the MTN's, the prices will drop.
YPG can still do some form of recap + conversion to address the prefs and common shares only without the threat of CCAA. It can be done, it's just a matter of playing with numbers, and it would not be as drastic as the current plan awaiting a decision. Instead of a 200:1 thrashing it can be done with a 10:1 or 20:1 consolidation.