Fong's 50% giveaway vs. Bankruptcy protection

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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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vlada_mexico

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Fong's 50% giveaway vs. Bankruptcy protection

posted on Dec 24, 2011 01:40PM

Will someone please explain:

If the Court Award's KRY what it has invested, plus legal interest, plus Court and Legal expenses, plus some compensation for lost profits (let's say, 1 Billion Dollars as a start), which is better for stockholders? Giving away 50% of the Company, or taking a chance on Bankruptcy?

Let's say, Creditors are due 2 to 3 hundred Million (I think this is on the high side but we have to use some figure).

Bankruptcy will limit KRY's creditors to much less than 50% of the award.

I'll bet on Bankruptcy, any day of the week!

vlada

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