It is possible that Fung may be able to use the pressure by the bondholders to his advantage when negotiating with these bananaheads. Fung to Hugo..."we would love to give you the additional time you are requesting [translation: more time to yank our chain in an effort to bankrupt us] to come up with a mutually acceptable agreement but we are dealing with circumstances beyond our control. Our hand is forced by our bondholders. We MUST have this resolved to our satisfaction by July 31st or we will be FORCED to file for arbitration due to the situation with our bondholders"

I doubt VZ would care one way or the other. I wish I could believe that VZ has a master plan to this whole delay but their record of bumbling things doesn't support that thought. I think the noteholders are on board. We will find out soon enough.