Cryptocurrency NewsQuadrigaCX creditors set to receive 13% of their claims as an ‘interim...

QuadrigaCX creditors set to receive 13% of their claims as an ‘interim dividend’

As of April 15, 2019, the creditors will get payment equal to the value of their lost cryptocurrency assets.

QuadrigaCX, a bankrupt Canadian cryptocurrency exchange, will pay out 13% of its creditors’ total claims as part of a “interim dividend.”

According to a May 12 notice to creditors from QuadrigaCX’s bankruptcy trustee Ernst & Young (EY), each “creditor with a proven claim will receive 13.094156% of their proven claim less the levy amount payable to the Office of the Superintendent of Bankruptcy pursuant to the BIA.”

The interim dividend provides for a distribution of approximately 87.0% of the funds the Trustee is currently holding. The remaining funds will be held as a reserve for future disbursements related to the administration of the bankruptcy. A final distribution will be made at a later date,” EY added.

According to the letter, 17,648 creditors have lodged claims totaling 305.6 million CDN ($223 million).

According to EY, 15,356 creditors are owed between $0 to $10,000, while 1,784 are owed between $10,000 and $49,999.


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