Pretty much every Code owner i know (me incl. back when i had those cr*ppy brakes) has this issue, and have solved - removing the bolt by hamering in a Torx key and after the bolt is gone they use a bend cable or a split pin to hold the pads.
When my codes did this i got a pair of Formula K24 - the best solution up to date
well i love my codes! i used a drill bit 5/64 and a easy out that size. you can find them at ace hard ware. so ill explain the method. and easy out turns left so you drill a hole in the bolt head and tap the easy out in the hole you drilled ( as straight as possible) and turn it left with a set of vice grips and they will come right out. and then you use a cotter pin to hold them just like shimano brakes. the only complaint about my codes and the pot metal levers that do do good with trees.
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