UK High Court Hears Procedural Issues in Bid to Dispose of 60,000 Bitcoin

The UK High Court held a procedural hearing on June 5 (local time) on the proposed disposal of assets linked to the Qian Zhimin case, Caixin reported. About 16,000 Chinese victims have registered via several UK law firms to join a civil recovery process under the UK's Proceeds of Crime Act, representing under 13% of the roughly 128,000 victims in the Lan Tian Ge Rui case. The hearing centered on how participating firms should apportion shared litigation costs. Lead firm Fieldfisher told the court it has already incurred about £190,000 in expenses. The judge ordered each firm to pay costs into a court account in proportion to the number of victims it represents, with payment due by 4:00 p.m. on June 26.