Reasons to file for CCAA can be for different situations because, of course, each company is different. Seems Nortel filed to avoid environmental clean up. From what I know, no notes due until mid-late 2012. So maybe the reason for the extended Stay. But, my DD on Nortel is minimal.

CRYFQ maybe could pull it off and extend, extend, extend the Stay. With the lack of updates on the E&Y site, it continues to make for a lot of rumors flying. OTC/Pinks thrive on rumors. The Noteholders might be on board, in one way, shape or form. Possibly Noteholders received similar conditions as the PP offered to note-roll... Or,... Possibly Noteholders will leverage payment on their notes through the original PP by not agreeing on the Plan of Arrangement/Compromise. Fung signaled this in his first affidavit - that CCAA was recommended by one of the PP insiders, so the PP could complete under a court process and without outside interference.