Cheers guys,
All great answers and ideas. I decided to go very gently and grind, file and hacksaw off the bolt as low as I could get it. The rest of the rivnut fell off and I was able to get it out....I loved the claw hammer idea...brutal but quick...Anyhoo here's a few pics because we all love pics...Also fitting a new sub frame to a bike because of a knackered thread just shows that the "new mechanics and engineers" philosophy is to replace instead of repair and using your head...
This is the location of said problem..
This is the rear rack support on the rear subframe, as you can see the left rivnut is perfect while the right one has no thread
Here is the left one all intact..
Here is the right one with the thread at the bottom missing
This is what I needed out of the rear subframe
All ready to receive a new rivnut, with no damage to the box section walls
This is the rivnut in two pieces, as you can see the top collar has broken away from the main body,
So now all I have to do is get the correct rivnut that fits inside the diameter of the hole, ( any ideas )
Once again thank you all that have helped me with ideas and experiences, I must admit it has been fun taking it all apart and fixing it properly...Tosh