TORONTO — The widow of the founder of QuadrigaCX has agreed to hand over most of her assets in a settlement reached as part of bankruptcy proceedings for the now defunct cryptocurrency exchange.
The settlement says Jennifer Robertson and the estate of her late husband, Gerald Cotten, are to return about $12 million in assets to help repay users of the exchange.
The funds are only a fraction of the $214.6 million in cash and cryptocurrency that an estimated 76,000 unsecured users have claimed following the collapse of the exchange after Cotten’s death last December.
The assets handed over by Robertson will add to the roughly $32 million that bankruptcy administrator Ernst and Young has already recovered from QuadrigaCX.
Robertson will keep about $90,000 in cash, a Jeep, and some jewelry and furnishings as part of the settlement.
She says in a statement that she believes the settlement is a fair and equitable solution, and will allow her to move on with the next chapter of her life.
This report by The Canadian Press was first published Oct. 8, 2019.
The Canadian Press