Clients of the now-bankrupt Canadian crypto exchange QuadrigaCX will get only 13% of their claim as an interim dividend at price rates of 2019.
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According to a notice from bankruptcy trustee Ernst & Young (EY), each creditor will receive as much as 13.094156% of their proven claim. To cover debts, the trustee will distribute around 87% of the funds it is currently holding.
The document notes creditors will be compensated with the monetary value of their crypto assets in Canadian dollars at price rates as of April 15, 2019 (at that time, 1 BTC was worth $4,933).
Cryptocurrency exchange QuadrigaCX lost access to $190 million in user funds in February 2019, allegedly after the death of its Co-Founder Gerald Cotten. As a result, the company went bankrupt and closed down. In June 2020, the Ontario Securities Commission concluded the collapse of QuadrigaCX was the outcome of fraud committed by Cotten.
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