Rolf: I suppose all Veny creditors can, individually, agree on a voluntary basis to exchange their securities for other assets

 Rolf: I suppose all Veny creditors can, individually, agree on a voluntary basis to exchange their securities for other assets.

So far, no exchange offer has been made, and I suppose no voluntary agreement without exchanging has validity under NY law.. (but one should see the documentation first).
I would be glad to exchange bonds for cash, or for other better securities in a credible currency and jurisdiction.
I suspect that "negotiation" was an insider deal for local well connected creditors.