What the judge said is on public record when he dismissed the opt-in committee motion. I think I have paraphrased him correctly but everyone can read it for themselves and decide.

Tenor have done a lot behind our backs and I think it is fair to say that it is their company now not ours. I don't know if we have any rights any more or if the court has any duty to shareholders now. CCAA is for the benefit of creditors.

But lawyers have a knack of being able to argue anything and sound reasonable so maybe Gowling can change the waterfall agreement. I hope so. Do you understand their argument about a breach of the Criminal Code? Do you know why Mr. Reyes, a shareholder, opposed their motion?

Of course this all assumes there is a payment - aren't Gold Reserve still waiting?