jimmi, i think the following had more to do with litigation from shareholders than noteholders....if the noteholders were paid off there would be no risk of litigation from them..my guess is that the investor did'nt want shareholders suing them for taking undue advantage...in the end, wether it's noteholders or the new PP investor, somebody other than shareholders will end up with whatever the arbitration brings imo..

Point 82 on page 21 says "As noted earlier in this affidavit, the lead investor on the $135 million financing proposal have preferred that the financing be subject to court approval to avoid litigation. Their concern is understandable in light of previous litigation by the Noteholders against Crystallex and their directors.