QuadrigaCX: investigation expenses approved
Blockchain

QuadrigaCX: investigation expenses approved

By Alfredo de Candia - 1 Aug 2019

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Yesterday, the Nova Scotia Supreme Court approved all the expenses for the QuadrigaCX case for a total of over $1.6 million.

Indeed the court approved, without any objection, the activities carried out by the various operators involved in this case, and thus confirmed the different expenses to the respective companies.

The companies involved in this case were 5:

  • Ernst & Young (EY), to whom are owed $592396.57 ($778444.90 CAD);
  • Stikeman Elliott (EY’s legal counsel), who will receive $684654.63 ($899677.57 CAD);
  • Kirkland & Ellis (EY’s American legal counsel), who are entitled to $14367.27 ($188676.44 CAD);
  • Miller Thomson (representative counsel), who are owed $302720.47 ($397793.00 CAD);
  • Cox & Palmer (representative counsel), who are entitled to $37023.05 ($48650.53 CAD).

In short, a total of $1631161.99 ($2143442.44 CAD). The funds recovered in the process, or approximately $25 million ($33 million CAD) according to a previous Ernst & Young report, will be used to pay these sums.

The total that will eventually be distributed to the various creditors will be $23.4 million ($31 million CAD). Meanwhile, Ernst & Young is also trying to sell the real estate assets owned by the late Gerald Cotten, CEO of QuadrigaCX.

The story seems to be coming to an end and the over 70,000 creditors will soon be able to receive compensation, at least in part, for what they were holding on the platform.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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