CRYSTALLEX INTL CORP COM (fka CRYFQ)

[Curse]

I think the court is aware of their duties to facilitate a plan of compromise. I believe these 30-45 day extensions are prudent as it makes the parties talk. Does it mean the judge is getting tired of management? In my view no. Does it mean he is tired of Bond guys? Again in my view no. I think it means he wants them to negotiate in good faith per CCCA rules. I believe Stelco played this game over two years and shareholders remained whole.

When the judge says or implies the best solution is proceeding to arbitration then he may actually mean it. When judges says the note guys strategy failed, they probaly mean it. In my view his view is they should wait without being rewarded more than what is owed. He is well aware most of these guys are in at 40 cents on the dollar as it is so them waiting for a doulble plus interest is not unreasonable. Technically it should not matter what they paid for the notes but I believe it is a factor.

It really is a strange CCCA. One for the books really. The SC said dont waste our time with it so once again I assume the judge has complete control to extend stays at his discretion. He may feel now is the time to strike a deal since appeals are done so stays are short. Does that mean management will roll? They seem to be about the cash and the paychecks so I really dont know. But I dont see why they would have to roll at this point since their original argument was our position is to wait until arb decision. They since had to modify that stance since it spits in the eye of CCCA rules.

Dilution with our shares is a issue with me. I dont see tenor in any trouble as dilution would come out of management and shareholder stakes. So once again does management want to share? I doubt it as any dilution would be from a 65% remaining stake.