The 2034 bonds consequence if Bombardier lose the caseThe bondholders ask for immediate reimbusrment of the principal and the payment of all the future interest payments at the present value.
If the bondholders win, the reimbursment of the principal of 510 M$ is not a so big problem apart from the fact that the 2034 debt was not the priority of the management, they could have sleep on it till 2034.
The present value of all the 23 interest payments (11,5 years) computed at 7,45% (the rate of the bonds ) is 290 M$. That is the real problem of this case. The 19 M$ semestrial payments could have been paid with the 12 future years of cash flow instead of immediately if the bondholders win the case.
And the strategy to dilute the old bondholders with 250 M$ of new holders could have backfire if you have to reimburse all the bondholders (510 M$ instead of the original 250 M$).
That's the worst case scenario; Bombardier could win its case, the judgment could not allow the reimbursment of all the 23 payments but only the principal and a reasonnable amount of compensation.