Have already complained, but apparently am on the “Squeaky Wheel List.”
Seems Canadians have a higher tolerance for, “squeak,” than USA gov’t employees.
One person can only do so much. So, up to you guys. The more the merrier...
Office of the Superintendent of Bankruptcy:
Telephone: 1-877-376-9902
Fax: 1-877-827-7139
Email: ccaa_lacc@ic.gc.ca
For those not sure what to write, maybe something like; There was a hearing on Oct 11 concerning Crystallex CCAA, and there is still no Monitor update showing the court filing. Is the company still under CCAA protections?
Under CCAA regulatory requirements, all Court Filings are to be posted within two business days of receipt by monitor. Since the Monitor is in the courtroom on the day, they basically are in receipt on that day. At a stretch, could call it the day after, maybe. Now four plus (including the court date) business days have passed without disclosure. So, seems overdue.
Unfortunately, CRYFQ/KRY shareholders have been beaten into submission for so long without disclosures, that there is no longer any expectation of disclosure. Just pointing out that there are regulations that protect shareholders by mandating disclosure.
Also, for the near future over the next couple of weeks... All communications between the Monitor and creditors are required, by CCAA regulations, to be disclosed and posted within two days of the Monitor doing any such communication. The "Claims Process" paperwork noted in the motion, as well as Fung's affidavit, and the Monitor's report is considered as communication between the Monitor and creditors. Might be interesting to see how the Classes/Groups are arranged and who falls within each.
The Claims Process is a significant step, and possibly another tell-tale that the judge wants this CCAA completed sooner rather than later. Effectively, any majority credit holder within any one Class/Group can shoot down the whole Plan with a “no” vote. So, Bondies/Noteholders may not necessarily be the only “Big Dog” management might need to appease.
