posted on
Aug 01, 2023 01:20PM

Welcome to the Crystallex HUB on AGORACOM
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

Message: Re: CVR
Sherm I guess we have a different concept of quickly. I've been a shareholder since 2005 and have had my share of disappointments with the time frame since KRY filled bankruptcy. There have been to many Easters to remember all the BS we have endured as shareholders.
You tend to post generalities that most can agree with. Saying Tenor and other unnamed will fight to keep all the money is like saying the sun will rise in the morning. You are correct. The difference is you make it sound like it will happen when the money is collected when in reality it has been happening since before KRY declared bankruptcy. The forces wanting all the shareholders money have made and are still making moves in and outside of court to keep as much as possible. The forces have been met with resistance both in the court and outside by groups like our Ad Hoc Committee and Adelso Adrianza. These groups continue to push for all shareholders, even those trying to tamp down the euphoria.
Recently, I like others have felt the tide turn in our favour after years of feeling helpless. I wouldn't have used the word euphoria but I guess it does fit and is accurate. Why do I feel euphoric?
Crystallex has won every court ruling against VZ
The Judge had set a time table for the auction of Citgo that ends in July 2024 (we have an end of the tunnel in sight)
If there is no settlement before the auction process is complete we will receive all that is owing which is approaching 2 billion dollars when all interest is included.
Judge Silverstein has made it clear to Tenor and Crystallex that no money is leaving her court until she approves the distribution.
Judge Silverstein has said that when the money has been collect there is no longer any need for redactions which means everyone will be able to see behind the curtain.
There are a few assumptions that also make me euphoric. I believe that Judge Silverstein will rule favourably on Adelso's new motion (I assume) to have an examiner or legal representation or a trustee to represent the shareholders thus opening up the actions of Tenor and Crystallex to rob shareholders of their money.
I also believe that Tenor is not stupid and knows that if all their dealings are made public it won't go well for them both in the public and before the courts. This will iincentivise them to settle with shareholder which will reduce the time it takes for shareholders to be paid.
So given your desire to tamp down my euphoria, I will say it won't affect me personally because I have taken the time to read the documents when they become public and know the factual information they contain isn't supported by your postings.
In the end, we will all arrive at the same destination at the same time no matter which side of euphoria coin we are on.
JJ
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