Cryptocurrencies
Quadriga Founder's Widow Seeks Repayment of Her Costs
- Jennifer Robertson provided ‘interim financing’ for monitor
- Creditors say payment is ‘inappropriate’ until review is done
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The widow of Quadriga Fintech Solutions Corp. founder Gerry Cotten spent C$300,000 ($225,000) to help the shuttered cryptocurrency exchange secure court-approved protection from creditors, keeping clients owed millions at bay. Now she’s looking to be repaid.
The Vancouver-based firm has been under creditor protection since Feb. 5 with Ernst & Young acting as the monitor sorting through Quadriga’s dealings. That came at a cost and Cotten’s wife, Jennifer Robertson, agreed to provide “interim financing" totaling C$300,000 to the estate -- with half of that used for professional fees tied to filing for the Companies’ Creditors Arrangement Act and appointing new directors for the firm, according to a January court filing.