Re: Fung's Bonus ..... $150,000
in response to
by
posted on
Jan 21, 2012 02:28PM
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
I remember reading it as well but don't remember where exactly.
Taking the bonus just before filing is certainly a slap in our faces.
The only thing more greedy is the noteholders wanting to take the whole arbitration claim for them selves. Doubt they would have been in this position if they has secured their loan with any future KRY claims against VZ. They don't seem to so bad off.
Over the length on the loan the noteholders have gotten about $55 million back in interest. The only payment that has been missed is the last one and principle. So while the share holders have seen their shares go from $6 to 6 cents the noteholders are only out less than half of their investment. They are owed about $105 million so I guess wanting $3.8 billion in compensation seems pretty FAIR!!!
Make no mistake the noteholders want everything for themselves. The whole court fight right now is to take control of Kry and screw us shareholders. They don't want Kry to arrange financing. They continue to fight in court trying to delay the financing hoping Kry goes belly up waiting for the courts.
Luckily we have a Judge who sees what the noteholders are doing and continues to give Kry the opportunity to raise money, pay off the noteholders and continue the arbitration claim for everyone else.
JJ