Confusion over who’s in charge in Venezuela may keep Crystallex International Inc. from collecting a $1.2B arbitration award.
Crystallex International Mining News
PDVSA filed an appeal requesting that a Delaware court vacate a decision granting the Canadian miner the right to seize its U.S. assets.
The Canadian company alleges that the South American country is performing “fraudulent transfers.”
Crystallex International Corp is seeking to collect $1.2 billion plus interest awarded in 2016 by a World Bank tribunal against Venezuela, which Venezuela has refused to pay.
Crystallex International announced that trading of the Company's common stock will be suspended on the NYSE Amex exchange effective at the close of business on June 6, 2011, subject to the Company's appeal to remain listed on the Exchange.
Crystallex advised of legal action by certain noteholders; company notified of Amex panel appeal decision
Crystallex International reported today that it has been served with a Notice of Application by certain holders of the senior unsecured notes of Crystallex that are due December 23, 2011. The noteholders are seeking a declaration from the Court that there has been a "Project Change of Control" event as defined in the First Supplemental Indenture made as of December 23, 2004 which would require Crystallex to purchase all of the notes of each note holder who has so requested at a price equal to 102% of the principal amount of the notes, together with accrued and unpaid interest to the date of purchase.
Crystallex International Corporation (TSX:KRY)(NYSE Amex:KRY) has received notice, dated April 5, 2011, that the NYSE Amex LLC intends to proceed with an application to the United States Securities and Exchange Commission to remove the Company's […]
Crystallex International Corporation (TSX:KRY)(NYSE Amex:KRY) announced today that its February 16, 2011, Request for Arbitration before the Additional Facility of the World Bank's International Centre for Settlement of Investment Disputes ("ICSID") against the Bolivarian Republic of Venezuela ("Venezuela") has been registered by the Secretary General of ICSID.