[rlmorel]

Right. One has to wonder what terms were presented to the secure bondholders. Something like: "We will give you ten cents on each dollar. You should take it. If you contest, we will drag our feet, we will smear you in the court of public opinion, and we will bring a proctoscope in to audit your financial dealings. We have a country we are trying to save. If I were in your shoes, I would accept the terms we are presenting, because that is all you will ever get."

Or something along those lines.

[Former Proud Canadian]

There was no offer, as I recall. Just a presidential edict. Unbelievable.