You may know better than me, but what makes me think that NY is still around and still has influence is the effort that is underway to recapitalize the company while preserving the common stock that is currently outstanding.
If Yates didn't have any influence over the process, I would think the Board would come to the conclusion that the common needs to be wiped out and a deal needs to be reached with the creditors and new investors. There's no room (or value) for the common.