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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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Message: Mining Co. Says Venezuela's $2.8B Transfer Was Fraudulent

The premise of CCAA is to keep a company alive to pay off debtors. Being in CCAA, at this point the first priority for Crystallex management is to keep the company alive long enough to collect the award, which somewhat satisfies their fiduciary responsibility to shareholders. How they keep the company alive may be up for debate but it seems the CCAA judge has no problem with the way things have transpired and it may be difficult to have the judge reverse himself.

It is pretty simple, and no one needs to be an expert to see that CCAA forces management priorities to change. Never noted anywhere that Crystallex managment is absolved of their fiduciary responsibilities to shareholders, but if that is your twist on it then so be it.

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