Re: the CCAA time and questions

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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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jcwillis

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Re: the CCAA time and questions

in response to

the CCAA time and questions

hondobud

posted on Dec 28, 2011 05:53PM

CCAA can kick the collection of debt down the road, indefinitely.

KRY must submit a plan. The Court AND Creditors (includes the Bondholder) must approve the plan. Basically, if ok with Creditors, it is all good with the court. Shareholders may get a say in voting on the plan, but generally are not invited.

CCAA will continue as long as KRY appears to be making headway on negotiations for a plan, and later in enacting the plan. The Monitor reports to the courts on this.