The various costs, taxes and debts are expected to be in the region of $500m. This will get paid first. What's left is the NAP. It looks like the "amended settlement agreement" is less than the arbitartion plus interest so whilst I expected shareholders to eventually get 20 cents a share, as a wild guess I doubt it will be less than 10 cents.

I'm sure various parties will try to increase their proportion. I doubt if Gowling are done but unfortunately that may lead to further delay and costs.

Tenor / Crystallex should soon restructure the company and likely bring it out of CCAA in the most benefical way for them. With $425m in cash and liquid securities the company is no longer in need of creditor protection. Tenor may choose to protect their payout by taking equity control which may include an offer to shareholders.

Play nice people, nothing good has come out of attacking each other (not even from attacking Tenor or Fung or Chavez). This could have 2+ years still to run and no doubt some twists and turns, perhaps showing respect to each other even when we don't agree is a good way forward. (Nah, bring on the conspiracy theories, ad hominems, insults, etc., why change a winning formula.)