It is curious to me that the bondholders waited so long to come after Crystallex.

Notice of Application, concerning the commencement of a legal proceeding against Crystallex. The Notice of Application has been filed by Computershare Trust Company of Canada in their capacity as Trustee for the holders of the Company's 9.375% Unsecured Notes due December 23, 2011.

Why did they wait until we were cash strapped? Why didn't they proceed against us right after Ortega's denial when they could conceivably still have been made whole.

It's my guess that at this juncture they have given up waiting for the permit and they are not interested in waiting around for the outcome of international arrbitration.

At this stage the only way they can get the money owed them would be to demand that Crystallex actively pursue a buyout.

I think that will be the direction that comes out of the negotiations with the bondholders.