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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: Re: Fung is a Genius
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bmh
Jun 18, 2017 02:37PM
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Jun 18, 2017 03:25PM

jimmijazz: you are entitled to your opinion, as am I. It seems you would prefer a long protracted court case with appeals and uncertain future, whereas I'd like a quick out of court settlement. You think you are special because you signed an opt in document - I think all shareholders are legally entitled to an equal share of the residual company. You think it's ok to unilaterally force all shareholders to pay Crystallex and Tenor's defence of the court case you want - I think it is a waste of time and money. (Of no significance it is nevertheless interesting to note that a bankrupt Nortel cost creditors around $2 billion on legal fees fighting various parties after going into CCAA).

I suspect Gowling and the opt in committee are on my side of wanting an out of court settlement. I am certain the court is on my side of treating all shareholders equally in terms of the residual company.

Here's a simple question: do you think opt ins represent the majority shareholding in the company? By the way, I'm sure you appreciate that the company is no longer "owned" by the shareholders - we are now simply the lowest and most irrelevant form of creditor.

I wish you good luck but of course I hope your opinions on this have no luck and are completely wrong.

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bmh
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