QuadrigaCX Initiates An “Interim Distribution” Of Funds After Its Bankruptcy

The law company that represents the users of the bankrupt cryptocurrency exchange QuadrigaCX, Miller Thomson, stated on May 8 that the interim distribution of funds linked to the bankruptcy procedures is planned to happen in the next few weeks. Despite the efforts of the bankruptcy administrators of QuadrigaCX, they were only able to return a fraction of the $160 million owements that was supposed to reach the creditors.

Erns &Young State that the Interim Distribution will Happen

After consultation with estate inspectors, bankruptcy administrator Ernst&Young stated that the interim distribution will happen in the future. In just a few weeks’ notice, the administrator will post a notice to the affected user base in regards to the process of this distribution. According to Miller Thomson, few users are going to receive a claim dismissal notice for the rejection of their claims over the bankruptcy process.

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