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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: Hmmmmmmmmmmmm

Important points here to be aware of:

1.- KRY has already spent over $150 million in fees to the all the lawyers involved, even those working for the DIP Lender, the Noteholders, etc.; not to mention the Monitor. It also has contingent fee commitments with the $1.400 / Hr. lawyers on both sides of the border that will likely cost al least US$ 30 million more. It is not hard to spend somebody else's money (i.e. the shareholders') to advance your self-interests ( i.e. The DIP Lenders and the BOD Members'),

2.- In the DE case, the fees involved will have to be covered from the auction / sale proceeds at the seller's expense (PDVSA's). By DE law, KRY must be paid the amount it is owed; not a penny more or less. So, CITGO and PDVSA will be making sure the fees are reasonable. In addition, Judge Stark would not allow any excesses to taint the case in his court.

3.- But the sale /auction process will never happen. PDVSA / CITGO / Venezuela have a lot more to lose by letting the process get to the point where a minority shareholder will be in the picture. So, as soon as final sale/auction order is issued and its appeal is expeditiously rejected by the Third Circuit we will see Venezuela making sure KRY is paid "yesterday". Importantly, the U.S. Gvt. (OFAC) will not interfere with the sale/auction, and Venezuela already knows this as a fact. 

What happens after that is another interesting story that already has a script and the actors in place; but the end has yet to be written.

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