Canadian law firms Miller Thomson and Cox & Palmer have been appointed by the Supreme Court of Nova Scotia to represent the customers of cryptocurrency exchange QuadrigaCX in upcoming proceedings.
Announced in a court filing published on Feb. 19 on Tuesday, Justice Michael Wood ordered that Miller Thomson and Cox & Palmer will take the role of the lead counsel in order to represent the representative committee of users of Canada’s major cryptocurrency exchange Quadriga.
The representative counsel will be specifically 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.”
Wood states in the filing that proceedings should concentrate on efficiency and cost-effectiveness, the council shall not have open-ended retainers and undertake inquiries where they can extract fees from the exchange’s assets. The filing further explains:
“Representative counsel can make the proceeding more efficient and cost effective for all parties by providing a clear mechanism for communicating with the stakeholders and avoiding a multiplicity of potentially conflicting retainers.”
While, the next hearing is scheduled for March 5, 2019, Justice Wood stated in the filing that he “expect[s] that representative counsel, the Monitor and the Applicants should be able to come to an agreement on most, if not all, of the terms of the order which could then be presented to the Court for consideration.”