Welcome to the Crystallex HUB on AGORACOM

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

Free
Message: Venezuela to Pay Crystallex $8 Million Monthly to Settle Billion Dollar Expropriation

Very thorough report.  The following extracted copy regarding who gets the details of the settlement is of interest because it is made up of 2 parts.

This paragraph is about Tenor and company:

"The Settlement Agreement has been disclosed to the Monitor and its counsel, counsel to the Company's noteholders and equity holders as well as certain other stakeholders, pursuant to the terms of their confidentiality agreements with the Company."

This next paragraph speaks to stakeholders offering  certain (but not everything) key information (I'm assuming they are witholding the details about the rest of $1B).  This may be the $1B payment part that will not be disclosed and Gowling has no access to.  My opinion.

"The Company has also arranged for the Monitor to offer to provide certain key information  concerning the settlement to the Company's stakeholders on a confidential basis through their counsel. The Company's objective is to ensure that its stakeholders can understand the key features of the Settlement Agreement but without breaching the important confidentiality requirements of the Settlement Agreement
imposed by Venezuela."

There may be some disagreement on this board  but I always differentiated between stakeholders (Tenor, etc) and shareholders (that's us) in all these reportings. Shareholders are not entitled to the full information provided by the settlement including Gowling. Hope I'm wrong.

 

Share
New Message
Please login to post a reply