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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Message: Re: Staying Focused
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Jan 04, 2012 12:35PM
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Jan 04, 2012 01:22PM
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Jan 04, 2012 01:29PM

NZranger, thanks for posting that refresher course on CCAA. It reminds me that I have been meaning to ask the following question. If the noteholders, as the major creditors, have to approve "The Plan", what prevents them from withholding approval until they get exactly what they want, which is to take over the company and nullify the existing shares? Can the court impose an alternative settlement that does not wipe out the shareholders?

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