Bankrupt crypto exchange QuadrigaCX to start 'interim distribution' of funds
Despite their best efforts, bankruptcy trustees have only managed to recover a fraction of the $160 million ($215 million Canadian) owed to creditors. According to a May 8 post by Miller Thomson, the law firm representing users of the defunct crypto currency exchange QuadrigaCX, interim distribution of funds tied to bankruptcy proceedings will be scheduled "in the coming weeks." Bankruptcy trustee Ernest & Young announced the interim distribution in consultation with estate inspectors. In the near future, the trustee will post a Notice to Affected Users regarding details about the manner and procedure of the distribution. According to Miller Thomson, a small number of affected users are expected to receive a Notice of Disallowance of Claim, which means that the creditor's claim has been revised or disallowed in the bankruptcy process. "If you received a Notice of Disallowance, you have the right to appeal the decision," Miller Thomson explained, addin...