QuadrigaCX, the exchange that closed down in January, is entering another stage as the creditor protection extension period runs out in less than a day. In the most recent hearing, the judge on the case stipulated payments for the legal and accounting experts.
The latest court decision was mostly technical, approving the reports on QuadrigaCX up to this point and the fees required. The fees will be paid from the pool of recovered funds, where around $25 million of assets was found. This leaves about $23.7 million to be distributed to creditors making claims based on the balances in their accounts.
The recovered sum, based on the research of Ernst&Young, is still a fraction of what QuadrigaCX held, with rough estimates seeing the cash and crypto losses at a...