Crystallex has asked for a stay until Jan. 11th, 2013 but the monitor is recommending a 30 day stay with mediation so a deal can be worked out between the noteholder and Crystallex.

The noteholders have lost their leverage by losing in court every time. Trying to reach a settlement with them has been fruitless either by design or genuinely. I think both.

Fung bringing up MIS-USE of confidential information by the noteholders it should open the door to more delays in trying to reach a settlement.

Had the noteholders played ball we wouldn't have been in this situation of burning money. I think they are in a scorched earth position now where if they don't get what they want they want to make sure nobody does.

We are now 13 months from the final oral hearing in Washington on November 11th, 2013.

I would guess the judge will agree with the 30 day extension allowing Judge Campbell to mediate in late October.

Crystallex has until tomorrow to file their with-prejudice proposal. I'm guessing that even though they used the excuse they we still trying to reach a settlement right up to October 3rd they also didn't want it included for everyone to see in the report. The proposal will tell us if Crystallex is offering a piece of the award to the noteholders!

I'm not sure but if the extension is 30 days we may get to see the offer in the next monitors report in November.

Would be nice to see the draft of the general claims process presented to Crystallex by the monitor. Says they could be settled by tomorrow.

JJ