QuadrigaCX customers' law representatives have been appointed

20 Feb, 2019 | Updated: 20 Feb, 2019
by Fifi Arisandi
QuadrigaCX customers' law representatives have been appointed

The QuadrigaCX saga has entered a new chapter with the appointment of law representatives of the customers.

Several law firms were reported to take part in the deliberations, but, the Nova Scotia Supreme Court Judge Michael Wood’s final choice goes to Miller Thomson and Cox & Palmer law firm.

Read more: QuadrigaCX: Judge delays decision on creditors' legal representation

Judge Wood argued that both firms have “extensive insolvency and [Companies’ Creditors Arrangement Act] experience”, with Miller Thomson also has previous experience in crypto-related cases, as reported by Coindesk.

Still according to the Judge, compared to the other law firms, Bennett Jones/McInnes Cooper and Osler, Hoskin and Harcourt/Patterson Law’s proposal, the appointed firms’ proposal is said to have carefully thought out to minimize the costs.

With the appointment, Miller Thomson now proceeds with the collection of information of each of the possible creditors, including their contact information and claim amounts.

Although one of the creditors, who lost $422,000 said to have managed to find consolation from his family and friends’ support, it is very crucial for the appointed law firms to do their task extremely well.

Read more: Man who lost $422K in QuadrigaCX disaster: 'I was angry and depressed'

It can lay the groundwork for any future lawsuit, despite the impossibility to file a class-action lawsuit immediately due to the court’s decision to grant for a stay of proceedings earlier this month.

How the QuadrigaCX case will roll out, stay with Chepicap for updates.

In the meantime, the crypto market has seen a rally in the last couple of days. Is it the comeback season for the bull already?

WATCH: Alt Season INCOMING?! 🚀 And Bitcoin breaks $4K!

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