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

There is only value if collection is done expeditiously and collection costs are minimal.

I wouldn't be so sure Fung/Tenor need to actually go after any more percentage from holders. They just need to use the system and their lawyers to do what they want. Unfortunately, CCAA is set up to make management the best opinion in this.

If there is something left after collection costs, the company can claim they are owed $640 large from the award to continue in business. Anyway, to stay in business they may claim they need even more working capital and have to restructure, get outside investors, and start over. CCAA history shows minimal, if any kindness to commons. I don't like it at all, but seems to be the way it is going.

Always hoping for the best despite all of the antics going on.