In general courts like to get rid of CCAA when they can so the idea of the company becoming solvent again is not far fetched. Being re-listed is only likely if they have a business e.g. if VZ included some share in the GRZ JV company (I think GRZ got this in addition to their award so I would expect the same).

My expectation is that the company will exit CCAA asap (possibly in the next 12 months), Tenor will convert their share of NAP to equity and then offer remaining shareholders an amount equal to what we would get from the waterfall agreement (hopefully above 36 cents US). Opt ins might sue for more and that will likely stop the rest of us taking Tenor's buyout offer. Personally I'd prefer to take the money sooner.

All this is speculation and could be completely wrong as we don't know the VZ deal.