Crystallex International

RM was probably referring to an Open or Closed door hearing which determines if it's open to the public or not.

The Noteholders have filed a "motion for leave to appeal" which is asking for permission to appeal to the Court of Appeal.

Usually this is done in written form, submitting a factum with all the reasons for appeal. Grounds for appeal are usually restricted to errors of law or errors of fact in the original ruling / decision. This can be a long process with a lot of back and forth paperwork between the parties.

I would guess that the hearing is being held to expedited the process...

The Noteholders have one shot at convincing the judges that an appeal is merited.

The CCAA is meant to be flexible and I think Newbould has a fair bit of latitude under the CCAA act.

I say the Noteholders have a 1 in 10 chance.

NZranger