Crystallex International

The judge protects shareholders and is your hero. Got it.

The Company and Management are one-in-the-same in CCAA. Want to get ahold of the Company who'd get the call? Not stakeholders. Certainly not commons. Management.

Check the history of CCAA - You'll find that commons typically hang in right up to the moment a company exits CCAA. The only thing unusal here in the "rulings saving commons" is that a rearrangement has been completed, and the court does not officially recognize it. Yet.

Collateral basis? This is similar to collateral damage - Where a target is taken out and there is damage that is acceptable because the target was destroyed. In this case, the award target has been largely taken and commons having some award is, for now, acceptable.

Tenor-Crystallex still has shenanigans up their sleeve.