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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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Message: Where we stand today

At this point in time, the only thing that lawyers can do is to show up in court and argue against any motions put forward by KRY / Tenor. The bankrupcy procedeeding has hijacked all the rights of the shareholders and we will be at the mercy of the court until KRY comes out of bankrutpcy. The ongoing gag orders are meant to keep us all in the dark to give KRY / Tenor free hand to manage things to their advantage. All the secrecy to avoid "disclosing important information" or "releasing information that might impact negatively the agreement with Venezuela" is all designed to reduce the Fung / Tenor risks from a shareholding action. One question here: why was it important for KRY/Tenor to keep shareholders completly in the dark with regards to their share of the NAP? Who else cared about whether it was 35% or 12%? 

The lawyers will only be able to do something after 1) Tenor / Fung actually collect their share of the NAP or 2) KRY comes out of bankrupcy. This is why KRY/Tenor will do their best to delay either one as long as they can. After all, they both continue to earn money.

The thing that Tenor / Fung fear the most is getting enough payments from Vzla. to pay the DIP loan and the Bondholders. This because at that point there is no reason for the company to continue under bankruptcy protection. 

The shareholders' pay day will come only after KRY comes out of Bankruptcy. From that moment on we will be able to sue Tenor, KRY, the Board of Directors, the Monitor and everybody else that took part in the quid pro quo designed to fleece the shareholders.

 

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