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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: 26th Monitors Report

This is a great opportunity for Gowling and Tenor to come to some agreement regarding what Gowling perceives as our share of the award. I do not see how we getting something can be avoided. It is a matter of how muchl This what it is all about in our case.

As the appeal is in progress Maibort Petit states that Crystallex should be able to pursue an immediate auction of shares of PDVSA right now. Good move.

"Therefore, if PDVSA wishes to prevent execution of the writ of attachment, it must file a Rule 62(d) motion and post a supersedeas bond (or seek other appropriate relief). If PDVSA cannot furnish the bond and the Court denies tlie stay (for any reason), PDVSA does not lose the right to appeal. See 11 Fed. Prac. & Proc. Civ. § 2905 (3d ed.). As Crystallex, CITGO, and RTSA acknowledge {see D.I. 86 at 3; D.I. 87 at 2; D.I. 92 at

2), the sale of PDVH's shares will not begin until the Court separately issues an order of sale. See 8 Del. C. § 324 ("No order of sale shall be issued until after final judgment shall have been rendered.").

 

 

 

It is obvious the appeal is a delay tactic which will fail I am sure. The court filing re alter eg. etc is very thorough and Crystallex's motion has been fully agreed to by Stark.

I think things will move very quickly after today. I certainly hope so. I also think Gowling should give us an update of this meeting shortly and as to where we stand.  Good luck to all. Best positive feeling I have had in a long time.

 

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