Here are some pics of the problem at hand and how I fixed it.

This image shows the bolt hinge nut/plate. Notice the top left hole how the threads are basically as smooth as a babies butt!!!

I thought I might be able to run a metric tap through the old nut/plate and get enough thread to hold everything in place but I wasnt so lucky. Here is how the top bolt holes cleaned up after the tap was ran through them. Take notice of the up left hole again. This one looked almost identical to the previous pic.

Here is the bottom hole drilled out with a letter Q bit.

Here is the top nuts/plate tapped with a 3/8's normally fine thread. It is a little hard to see the pics. I think I had the secondary light a little to close to the threads to make them out.
I would recommend anyone else that does this be very careful with your tap. It seems like there material being tapped maybe somewhat hardened. There were several times that I was concerned that I was about to break the tap and that is the last thing you want to do if you are trying to fix this nut/plate by going to a standard sized bolt.
Hope this helps someone else.