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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: Still no word from Mr. Cohen
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Jun 24, 2016 11:02AM
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Jun 24, 2016 02:09PM

I brought this up a while back. The shareholder committee, as they now call themselves, initially wanted to represent all shareholders. That looked to be the right way to do it because it was not so much about their small group but more about all shareholders. Things changed.

It is interesting that they went with the opt-in approach pushed by "Fung and the Boys" and suggested/recommended by the judge. Hope not, but almost feels like the shareholder committee is doing the bidding of Fung and the Boys. And the portion you point out reinforces it is about the committee, not shareholders in general.

Unfortunately, CCAA history shows shareholder attempts to get recognition speeds up the cancellation process. Regardless, Fung and the Boys will find some way to use the opt-in process to their advantage one way or another. At the very least, it is a good excuse for them to claim being distracted from collecting the award.

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bmh
Jun 24, 2016 11:56PM
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