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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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AGORACOM WIRE - FRIDAY MAY 25TH, 2012

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no_bear

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Re: re: Question (equipment)

in response to Re: re: Question by auntierooski

posted on Sep 12, 09 10:39AM

I didn't notice anything in the bond indenture about collateral and haven't read anything that I can recall from the financial statements that stated that the equipment was encumbered as collateral for any loans/bonds/etc.

The bondholders would have to pursue their legal action in order to attain such a position, which they are not doing at present. IMO they are not pursing it because they do not have a winning position at this time. The business judgment rule trumps their arguments until KRY missed an interest payment, which under the indenture would accelerate the maturity.

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