Just a thought here on the lines of the Financial Advisor hired and the bond holders. IMO the bond holder case could possible drag on for quite some time past arbitration deadline.
So what if VZ asked KRY to go 50/50 jv but KRY cannont do that due to the bond holders "loss of controlling interest". In comes the financial advisor to negotiate with the bond holders to allow the 50/50 deal to happen with VZ and prior to arbitration commencing.
Food for thought.