Yes, I have encountered this exact problem. I hacked off the bolt so the original hole was clear and then drilled/hacked a hole into the bottom of the box section large enough to insert a nut and recive a wrench. I used a somewhat smaller nut, bolt and washers for the replacement application. There's just enough room to use the open end of a wrench for tightening.
Let me know if you want a pic of this high tech handy work.