Crystallex International

Welcome to the Crystallex HUB on AGORACOM "Crystallex International Corporation is a Canadian-based gold producer with operations and exploration properties in Venezuela."

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Re: Three New Entries @ Gowlings

over 8 years ago

in response to Ploutus's message

Your reasons sound great. Keep in mind, this judge approved cancellation of shareholder meetings. Is GRZ collecting their award? Thought they cut a deal to mine in Ven again.

CCAA lets company management call all the shots in acquiring loans, debt payment priority, and company rearrangment to exit CCAA. The company that exits CCAA will not be the same company that entered and, if kept in business, will have "new investors." Lots of options.

Reading through the two motions, what Crystallex and the DIP Lender submit also makes sense considering the way things are done in CCAA. Secret reasons for the committee and this new DIP company formation by Tenor is interesting. Back room deals always are.

This committee-thing might accelerate Crystallex' rearrangement ousting commons.

Hoping not.