Quadriga CX Trustee Raises $30 Million for Reimbursements to Creditors, Claim...
The trustee of the now-defunct crypto exchange, Quadriga CX says the sell-off of the platform’s assets raised $30 million. This contrasts with the $171 million in claims that has been filed with the trustee by Quadriga creditors. Consequently, Ernst and Young (EY), the accounting firm mandated with administering Quadriga’s liquidation process, says it will not be able to reimburse in full all the claims. Disproportionate Claims As shown in one report, the trustee says it “received completed claim forms from 17,053 creditors of the exchange while a total of 42,957 claims....
Related News
Today the Bitcoin community was presented with great News. It seems that MTGox customers will now be able to claim their lost Bitcoin. An MTGox trustee has opened a two-way process for customers who lost their funds. MtgGox customers will be able to initiate this process either through Kraken or through claims.mtgox.com, a special MTGox platform created for this purpose only. The announcement suggests that customers can log-in into their Mt. Gox account at claims.mtgox.com to make this claim, or they can attempt to claim via Kraken. Tthe Kraken exchange was last year selected by Mt. Gox’s....
On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors.
Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown
Last week speculation and rumors concerning the release of 140K bitcoin (BTC) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “fake news.” During that same period....
The Restriction Reference Period is one of the final steps in repaying creditors, according to the document released Wednesday. Mt. Gox trustee Nobuaki Kobayashi released updated information on Wednesday regarding the rehabilitation plan for creditors of the long-defunct crypto exchange. According to the file, the restriction reference period starts on September 15. During the phase, "the assignment, transfer or succession, provision as collateral, or disposition by other means of rehabilitation claims are prohibited."Kobayashi confirmed that creditors have until September 15 to submit....
Mt. Gox’s trustee Nobuaki Kobayashi has at last filed a draft plan for the rehabilitation of creditors including former users. See also: Mt. Gox Deadline Extended Again After Creditors Criticize Refund Proposal
Nearly 25,000 creditors are claiming JPY 2,663,398,225,570 (more than $22 billion USD) from Mt. Gox Co. Ltd., according to bankruptcy trustee attorney Nobuaki Kobayashi. Kobayashi filed a report with the Tokyo District Court, Collegiate Section of the 20th Civil Division. The report summarizes the status of claims against the bankrupt company, along with the status of the investigation into the disappearance of bitcoins from the exchange. The trustee published the report distributed at the fourth credits meeting, according toleaprate.com. Report Lists Assets and Balance Sheet. As of Sept.....