CRYSTALLEX INTL CORP COM (fka CRYFQ)

[jcwillis]

In CCAA, Company Would Never Show True Motive...

Especially if the true intent is to ultimately go belly-up.
Doubt that would really be their true intention anyway.
It's all for show, and to slowly bleed arb proceeds towards themselves.
Dissolution, liquidation, winding-up, etc. immediately after arb proceeds collection would be the only, at this time, absolute way for commons to benefit from this disaster. But, that cannot be noted outright in CCAA.
And, there is no indication that would ever happen.
Nothing to prevent Crystallex from taking the arb proceeds, start anew.
A company reorg in CCAA easily gets rid of old shareholders.

US commons were finished by the SEC.
Canadians may still receive some benefit.

Crystallex has about $20MM available under the new DIP.
Unknown when they might run out of currently available cash.

Management outlines their MIP. Tenor is covered.
Bondies are secure. All outright and readily noted.
Simple process for the BOD to indicate a special commons distribution upon arb proceeds collection.
Yet, it is not done or considered. Interesting.