- A few days ago, the exchange announced an interim distribution of funds
- There are 15 lawsuits worth more than C$1 million
- The funds will be paid at market value as of April 15, 2019
Bankrupt Canadian cryptocurrency exchange QuadrigaCX announced the return of customer funds. Users will receive 13% of their claims as an “interim dividend.”
Bankruptcy administrator Ernest & Young said that each “creditor with proven claims” will receive 13.094156% less the amount of the collection. EY said in a statement:
“The interim dividend provides for the distribution of approximately 87.0% of the funds now held by the Trustee.
The remaining funds will be held as a reserve for future payments related to bankruptcy administration. A final distribution will be made later.”
EY documents show that Quadriga as a whole owes approximately $222.3 million to 17,648 creditors.
There are 15 claims over CAD 1 million and 28 claims between CAD 500,000 and CAD 999,999,999. In addition, there are 15,236 applications for less than $10,000 CAD.
All funds will be paid according to market prices as of April 15, 2019.