th....out of the question?, page-4

My mistake and I should have re-checked, thank for letting me know. For BLY's sake, lets see if they can keep paying the coupon and not further amend their lending covenants. Because as you say, Bond-holders have no rights least BLY fail to pay the coupon. I don't believe its as silly as you think given their position, that its not irrelevant to the discussion.