The canadian court has granted a crypto currency exchange QuadrigaCX another 45 days to search for the missing crypto assets.
The judge extended the term of protection from creditors until April 23, which will allow QuadrigaCX to avoid possible lawsuits. The canadian stock exchange should return their 115 thousand in the total amount of $250 million, $145 million of which went missing after the sudden death of the head of the company Gerald Cotto (Gerald Cotten) in December.
According to available data, he died from Crohn’s disease during a trip in the Indian city of Jaipur. According to the widow Cotto Jennifer Robertson (Jennifer Robertson), he was the only one who had the access keys cryptocotyle QuadrigaCX.
The judge decided to extend the period of protection from creditors, after hearing the arguments of the attorney of the exchange, Maurice Sasson (Maurice Chaisson). He expressed concern that the withdrawal of that protection would expose the company to a series of lawsuits.
“I suspect that we’ll see some lawsuits. Such proceedings can be initiated in multiple jurisdictions, and they may conflict with each other”.
Shasson also said that he and Ernst & Young – auditor, selected by the court for the search and recovery of missing scriptaction – more time is required to find the access keys.
“Maybe we can find them quickly, and maybe not. It is too early to speak about that will end if all our efforts fail. We must continue the search until, until it will have meaning,” – said the lawyer.
The judge was convinced by the arguments presented by Sassoon, and it extended the term of protection.
In addition, the court also approved the appointment of a third Director, who will monitor the sale of the remaining assets of Quadriga and will make decisions on behalf of the company.
The court also issued a warrant by which lawyers and auditor Quadriga will be able to access the data exchange information stored in the cloud. It is expected that this information will shed more light on what happened with the platform before the death of Cotto.
We will remind that in February, Ernst & Young identified the six addresses cold wallets, previously used QuadrigaСX, but they were all empty.