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

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Message: Re: Tenor Offers US$ 0.30 / Share!!!

Oh my! More conspiracy theories. Of course it makes no sense. Kick the can down the road??? Tenor do not control this, the court does.

The facts are that in November 2018 Crystallex receipts from the award totalled $500m. The tax reports were ordered prepared by an independent auditor. Tenor protected their rights by ensuring disclosure of the reports was limited, that was in May 2019. Presumably since that time the auditor has been preparing the tax reports. It is strange that they are not ready yet but given both VZ and Canadian tax has to be established it may simply be complications. Whatever the tax treatment it will impact us but we like Tenor have no control over that. They cannot kick any can down the road. Tenor like everyone wants to avoid tax, our interests are aligned.

I hate taxes (like everyone) so I don't spend any time looking into the intracacies but KRY_Chasers claim of "tax benefit only for pre-existing shareholders" is wrong but also irrelevant. The award and any tax benefit are value dated prior to CCAA. This is not a takeover where the buying company uses tax benefits of the taken over company to reduce their own liabilities. This is one company with assets and liabilities.

 

As regards the monitor, I have no recollection of any such restriction except as relates to confidential or otherwise court ordered redacted information. I have communicated with and received response from the monitor in the past.

 

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