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

Free
Message: Court Conf Call 22 Jan 24

I listened in on Judge Stark's conference call today. Here's the CliffNotes version:

Present on the call were reps and counsel from KRY; CITGO; Conoco-Phillips; Rep of VZ; several plaintiffs; and, the Special Masters Team.

Two misc actions were argued, both concerning creditors who, for different reasons, missed the 12 Jan 2024 filing date. One creditor is making claim for a $533M settlement, the other $17M. 

Judge Stark listened to Counsel from both sides argue their cases and will decide whether to allow a limited extension.  The concern by the Court, et al., is obviously the potential for floodgates to open to other new creditors.

I am not a lawyer, nor did I stay in a Holiday Inn Express recently, but in my non-professional judgement, Judge Stark's decision either way, will not substantially impact the Crystallex settlement.  

Respectfully Submitted,

Sherm

Share
New Message
Please login to post a reply