QuadrigaCX Legal Representatives Form Creditors Committee

The committee is made up of seven victims of the exchange with expertise in various fields.

Canadian law firms Miller Thomson and Cox & Palmer have appointed a committee to provide guidance to the victims of the mishap created by QuadrigaCX.

In a filing submitted to the Supreme Court of Nova Scotia on March 19, Miller Thomson notified the setting up of the seven-member Official Committee of Affected Users, comprised of customers of the crypto exchange that were affected by its downfall.

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Formed by the court’s order, the committee will be responsible to guide the law firms in representing the victims in court proceedings and will act as a liaison for the court-appointed monitor Ernst & Young.

The committee will be responsible for “managing communications with users; acting as user liaison for the monitor [Ernst & Young]; advocating for user interests before the court; identify[ing] potential conflicting interest amongst users; and advocating for user privacy.”

Moreover, it can “retain advisors, experts, and consultants to provide advice to and to assist the Official Committee of Affected Users and Representative Council in the exercise of their duties in relation to the Purpose.”

According to the notification, the appointed members of the committee are Parham Pakjou, David Ballagh, Eric Bachour, Ryan Kneer, Magdalena Gronowska, Eric Stevens, and Nicolas Deziel, along with two alternative members – Richard Kagerer and Marian Drumea.

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The names clearly showed the diverse expertise of the appointees in various fields as Bachour is a creditor at the doomed crypto exchange Mt. Gox, while Gronowska is an economic policy development advisor for the Government of Ontario.

“Bachour is also a creditor of Mt. Gox in 2013 and has direct experience with arbitrage and market trading in cryptocurrency. Through the Mt. Gox process he gained exposure to the legal side of bankruptcy and insolvency,” the notification stated.

In February, Miller Thomson and Cox & Palmer were appointed as the troubled exchange’s legal representatives based on an order by the Supreme Court of Nova Scotia.

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The case of QuadrigaCX is getting more and more complex. Though there is hardly any lead for the recovery of the missing funds, the exchange is also tangling into other controversies.

Yesterday, Finance Magnates reported that Michael Patryn, one of the co-founders of the exchange, is a convict and committed several crimes in the United States.

Meanwhile, the widow of the exchange’s deceased CEO Gerald Cotten last week revealed that he used his personal money to run the exchange’s operations while it was in a litigation process.

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