1.6 Ten Thousand Chinese Victims Seek 60,000 BTC in UK Recovery Case: Asset Disposal Progresses

Odaily, June 5th - On June 5th local time, the UK High Court held a procedural hearing regarding the disposal of assets in the Qian Zhimin (Qian Zhimin) case. Concerning the approximately 60,000 Bitcoins and other assets involved in the case, around 16,000 Chinese victims have registered through multiple UK law firms to participate in the civil recovery process under the UK's Proceeds of Crime Act. The relevant registration window closed on May 22nd.

A key agenda item of this hearing was the apportionment of joint litigation costs among the various law firms. The judge ultimately ruled that each law firm must deposit a corresponding share of £190,000 into the court account, based on the number of victims they represent, by 4:00 PM on June 26th. A dedicated hearing on the "legal applicability issue" to determine whether Chinese victims can claim ownership of the assets in question will be held in July. (Caixin)