Re: Hook-up to the Court Hearing May 13/24
in response to
by
posted on
May 11, 2024 04:36PM
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
That information is from the CCAA filing back in Dec. when crystallex needed to file an extension. Everything that goes through CCAA is approved. Crystallex didn't file that with the US courts if I'm right because they were negotiating with VZ at the time. To get an extention you need a reason and Fung didn't want to ask for one if they were able to reach an agreement with VZ and have to come back to the courts with a deal.
Bottom line is this is unlikely to carry into 2025. There is an auction date that is moving forward. Monday will hopefully answer some questions but either way we continue forward as planned.
Personally I have said for a long time that VZ will settle with crystallex once the other attachments are out of the way. VZ pays us and comes to an agreement with everyone else. The only for sure thing is Crystallex will get paid in full. The question is what is the right amount.
Call in on Monday if you can. It will be interesting to hear the questions and answers poised to Crystallex. It will also be very interesting in the tone of Silverstein towards Crystallex.
JJ