Welcome to the Crystallex HUB on AGORACOM

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: SETTLEMENT

Rob: "The big question is, did they pay the $425 Million in September?"

No, but they did pay it in Oct and Nov - over half was in the form of liquid securities and the remainder in cash.

The process to repay creditors has begun, as already reported here Justice Newbould has been asked to supervise this. It is not unusual for this proces to take several months and typically a plan of arrangement would be agreed by 2/3rds of creditors before the company could exit CCAA (which typically takes 6 months from such agreement). In Crystallex's case as creditors will be repaid in full with interest the process should be simpler but 3-6 months is still likely.

The continual redacting of documents makes little sense to me, anyone who needs to know has likely signed a CA and has all the info they need. Most likely Fung does it out of spite towards all those who have said bad things about him. The monitor will generally accept requests like this as they fear interference with business decisions.

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