Svmuureported on June 5 that the UK High Court held a procedural hearing on the asset disposal related to the Qian Zhimin case. Concerning the approximately 60,000 bitcoins 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 22.
A key issue addressed during this hearing was how multiple law firms would share the joint litigation costs. The judge ultimately decided that each law firm must deposit a proportional share of £190,000 into the court account based on the number of victims they represent, with a deadline of June 26 at 4:00 PM. A dedicated hearing on the "applicable legal issues" to determine whether the Chinese victims can claim ownership of the assets involved in the case will be held in July. (Caixin)