Qian Zhimin Case Holds First Hearing of the Year, Plans Further Arrangements for Bankruptcy Liquidation Proceedings in February

BlockBeats News, January 25th. According to Caixin, the civil recovery proceedings of the 60,000 BTC money laundering case involving Zhao Dong have started the new year with the first hearing in the UK. While the criminal proceedings in the UK have concluded, the civil recovery by the UK prosecutors, the rights claims of Chinese victims, and the transition to bankruptcy proceedings are proceeding in parallel tracks, influencing each other.

This was a typical procedural hearing, with no rulings made on asset ownership, compensation schemes, or substantive legal issues. The core issue of the hearing was who would represent the large group of Chinese victims. Judge Turner, presiding over the case, has expressed concerns about the current situation. With an increasing number of law firms representing different groups of Chinese victims, the UK High Court is facing the real risk of "agent proliferation." Subsequent hearings are scheduled for February 16-17, where further arrangements or guidance may be provided on the specific impact of the bankruptcy proceedings on the civil recovery case.