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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: New E&Y

Don-wys,

It appears to me that Gowling is gone M.I.A. I am not aware of any efforts on their part to protect the interests of the Shareholder Committee and, by extension, those of the Opt-ins. Last time I checked, Gowling still shows up on the service list, but this does not mean adequate representation. The saying, "showing up is half the battle" does not apply in legal representation, which requires fighting the good fight to the end. 

Being that the case, I would not hold my breath waiting for Gowling to discharge their responsibility. In the shareholders' place, I would be seeking other opportunities to protect their interests. Also, in the case of the Shareholders Committee, I would be already preparing a malpractice suit to recover any damages caused by their woefully inadequate representation and dereliction of duty. Gowling cannot get any release from the CCAA Court under the liquidation plan underway; and there is plenty ammunition to shoot them down in a court battle. To me, it represents a lot of easy money on the table.    

Now that I think about this, we could ask PAU, a practicing Canadian lawyer in Toronto, to step up to the plate for the shareholders. He was actually right when he repeatedly warned us that Gowling would not deliver the goods for the shareholders (I did not either and, therefore, I did not opt in). Credit must be given where it is due. So, chapeau! to PAU.

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