Ontario · CCAA
Responding Motion Record of the Independent Director - Part 1 of 20
Application / notice of application · 30 September 2026
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing7 verified
- secured creditorsnote: Amount is the total DIP Loan balance including accrued interest as stated by R. Fung at para. 147. Initial DIP Loan in April 2012 was US$36 million (original maturity Dec 31, 2016); the NAP/CVR entitlement ranks sixth in the Waterfall and is not included in this figure. · page: 60 · as of: 2026-09-16 · amount: 266897382.43 · debtor: Crystallex International Corporation · creditor: DIP Lender (Tenor Capital / Tenor Special Situations Fund LP) · currency: USD · security: Court-ordered DIP Charge ranking behind the Administrative Charge but ahead of all other charges; DIP Loan principal advanced US$75,733,333; interest 10% per annum compounded semi-annually (PIK). The DIP Lender also holds a separate CVR/Net Arbitration Proceeds entitlement (35%, subject to the Override) and a security interest over Crystallex property and assets.
- unsecured creditorsnote: Asserted claim, not allowed in this amount. Elsewhere the Trustee/AHC seek US$505,459,631.66 (incl. post-filing interest exceeding US$375,000,000) as of July 13, 2026, plus CA$6,167,040.86 Post-Standstill Fees and Expenses as of June 30, 2026 and US$5,165,917.39 pre-filing fees and expenses. Independent Director Marchi has allowed CA$197,390,114.93 (US$187,948,213.88 Allowed claim pursuant to Standstill Agreement + US$250,000 additional post-filing expense amount + US$5,165,917.39 pre-filing fees, converted at the Dec 23, 2011 rate), which the Company does not dispute. Notes are unsecured per the Trust Indenture; Indenture s.6.4 provides Trustee fees accrue interest at 2% per month after 30 days. · page: 61 · as of: 2026-07-13 · basis: Unsecured claim filed by the Trustee under the Supplemental Claims Procedure Order; the Trustee Claim seeks over $300,000,000 in post-filing interest up to July 13, 2026 and further post-filing interest per the Trust Indenture · amount: 516792589.91 · debtor: Crystallex International Corporation · creditor: Computershare Trust Company of Canada, as Trustee for the 9.375% Senior Unsecured Notes due Dec 23, 2011 (Noteholders) · currency: USD
- unsecured creditorsnote: Monitor also disallowed one additional trade claim for $45,768.00. Individual creditors not named on these pages. Note: as_of reflects the filing-date conversion rate; the claims bar date was January 18, 2013. · page: 61 · as of: 2012-01-18 · basis: 19 unsecured trade claims filed under the General Claims Procedure Order (claims bar date Jan 18, 2013; USD claims converted to CAD by the Monitor at the Filing Date rate); all 19 allowed by the Monitor · amount: 1462637 · debtor: Crystallex International Corporation · creditor: Trade creditors (19 claims, aggregate) · currency: CAD
- unsecured creditorsnote: Post-filing interest claims were disallowed by the Monitor; CRRC's general claim for the original loan amount was allowed. · page: 62 · basis: Claim for its half of CRRC Investment Limited's loan of $2,819,013.10 plus post-filing interest (6% p.a. before the Standstill Period, 12% during, 6% after) · amount: 2862495.41 · debtor: Crystallex International Corporation · creditor: Forbes & Manhattan Inc. · currency: CAD
- unsecured creditorsnote: Post-filing interest claims were disallowed by the Monitor; CRRC's general claim for the original loan amount was allowed. · page: 62 · basis: Claim for its half of CRRC Investment Limited's loan of $2,819,013.10 plus post-filing interest (6% p.a. before the Standstill Period, 12% during, 6% after) · amount: 2862495.41 · debtor: Crystallex International Corporation · creditor: Aberdeen International Inc. · currency: CAD
- unsecured creditorsnote: Employees dispute the revision and claim a combined $2,556,784.00. · page: 62 · basis: Claims for outstanding severance and other benefits under the General Claims Procedure Order; revised and allowed by the Monitor (USD converted at Filing Date rate) · amount: 1702148 · debtor: Crystallex International Corporation · creditor: Former employees of Crystallex (3 claims, aggregate) · currency: CAD
- unsecured creditorsnote: Approximate aggregate asserted; validity and value not determined; the Company is understood to dispute them. Separately, four shareholder claims (one withdrawn) of unspecified nature under the Supplemental Claims Procedure Order; the three remaining claimants have not responded to requests for clarification. · page: 62 · basis: Claims filed by shareholders against Crystallex and its Directors, totalling approximately $1.5 billion, advancing various theories including DIP financing and claims against D&Os (the Shareholder Claims) · amount: 1500000000 · debtor: Crystallex International Corporation · creditor: Shareholder claimants (more than 130 claims, aggregate) · currency: CAD