New Stay Extension Motion & Monitor Report

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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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KRY_Chaser

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New Stay Extension Motion & Monitor Report

posted on May 02, 2020 10:57AM

Interesting reading, as always.

Key aspects:

- Mediation with Noteholders is a continued failure. Seeking to force a Plan of arrangement and liquidation?

- Tax analysis continues: including "characterization" of award payment (old dog, new trick?),

- Company and Tenor not "optimistc" about a prompt resolution of the legal actions to collect the award,

- Company did not monetize $350 million Venezuelan bonds included in the $425 million paid by Vanezuela in in Nov. 2018. The question here is: did they hedge the bonds (No OFAC limitations excuse possible here).

- Stay extension until Nov. 2020 (six months).

Stay tune: you will be surprised by the upcoming "surprises".

Links to the filings:

https://ufile.io/o361g2d8

https://ufile.io/d45uzlrm

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