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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: Moving Parties Motion Dismissed
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Apr 27, 2016 02:21PM

The contingency payment part would have to be some sort of "cut" or percentage from whatever might be recovered from Tenor-Crystallex for the moving parties. Unfortunately, litigation will eat even more of what few crumbs are left. It is just another outfit at the trough feeding off commons. Maybe everyone should get t-shirts that say, "eat me."

I've brought it up before - CCAA considers the "company" to be the in-place management, and that the survival of the company/management is parmount. Despite what might seem to be common sense, Commons are not a part of the equation in CCAA. This motion dismissal confirms it. This was outright shown, a long while back, by the court confirmation of the company/management motion to cancel AGM's. Management will claim their millions in expenses in Ven, and take that out for themselves before any disbursement, when it gets to that point.

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