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Cryptopia account holders’ bid for independent advisers dismissed

Four account holders sought a legal representative and special trust adviser to better represent their interests.

Liquidator’s lawyer argued there was no legal basis for extra appointments as account holders had sufficient protection.

Key points
  • What’s at stake: Some account holders caught up in collapsed cryptocurrency exchange Cryptopia have been agitating for changes to the way the liquidation is being conducted.
  • Background: Christchurch-based Cryptopia collapsed in May 2019 after about $30 million of cryptocurrency was stolen from its exchange.
  • Main players: David Ruscoe and Russell Moore of Grant Thornton, Cryptopia, Justice Matthew Palmer, Marc Corlett KC, Jenny Cooper KC, Peter Watts KC, Emma Moran. 

A bid to appoint two independent advisers to represent account holders in proceedings related to collapsed cryptocurrency exchange Cryptopia has been dismissed by a High Court judge.

Christchurch-based Cryptopia collapsed in May 2019 after about $30 million of cryptocurrency was stolen from its

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Hamish McNicol Tue, 24 Oct 2023
Contact the Writer: Hmcnicol@nbr.co.nz
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Key points
  • What’s at stake: Some account holders caught up in collapsed cryptocurrency exchange Cryptopia have been agitating for changes to the way the liquidation is being conducted.
  • Background: Christchurch-based Cryptopia collapsed in May 2019 after about $30 million of cryptocurrency was stolen from its exchange.
  • Main players: David Ruscoe and Russell Moore of Grant Thornton, Cryptopia, Justice Matthew Palmer, Marc Corlett KC, Jenny Cooper KC, Peter Watts KC, Emma Moran. 
Cryptopia account holders’ bid for independent advisers dismissed
Law,
101358
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