- A few days ago, the exchange announced an interim distribution of funds
- There are 15 lawsuits for more than 1 million Canadian dollars
- Funds will be paid at the market price as of April 15, 2019Oh yeah
Bankrupt Canadian cryptocurrency exchange QuadrigaCX announced about the return of client funds. Users will receive 13% of their claims as “interim dividends”.
Ernest & Young’s bankruptcy administrator said each “proven claim creditor” would receive 13.094156% less the fee. EY said in a statement:
“The interim dividend provides for the distribution of approximately 87.0% of the funds currently held by the Trustee. The remaining funds will be held as a reserve for future payments related to bankruptcy management. The final distribution will be carried out later”
Documents from EY show Quadriga owes roughly $222.3 million in total to 17,648 creditors. There are 15 claims for more than 1 million Canadian dollars and 28 claims for amounts between 500,000 and 999,999,999 Canadian dollars. In addition, there are 15,236 applications for less than CAD 10,000.
All funds will be paid in accordance with market prices as of April 15, 2019.