'Each QuadrigaCX creditor with a proven claim will receive 13.094156% of their proven claim,' the accounting firm EY disclosed.
by EY on Friday, eagerly anticipated by the creditors, and it reveals that a reimbursement check is on its way. However, it comes with a caveat, as creditors will not be receiving the full amount they had claimed.Each creditor with a proven claim will receive 13.094156% of their proven claim.
In a revealing disclosure, EY outlines that the payout of 13% allotted to each creditor corresponds to “approximately 87% of the funds the Trustee is currently holding.” Interestingly, the accounting firm also highlights that a portion of the remaining funds will be reserved for future disbursements linked to the ongoing administration of the bankruptcy.
Within the document, an intriguing statistic emerges, indicating that Quadriga faced a staggering total of around 17,648 claims, with one notable claim arising from the Canada Revenue Agency . Reports indicate that in the lead-up to its downfall, Quadriga failed to fulfill its tax obligations for a consecutive period of two years, resulting in a debt of $11.7 million owed to the Canada Revenue Agency . Moreover, creditors who are entitled to direct payments in various cryptocurrencies will also receive a fraction of their specific digital assets converted into Canadian dollars.
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