AMSTERDAM, Feb 7 (Reuters) - Dutch cryptocurrency
exchange Bitvavo said on Tuesday it believes it will recover at
least 80% of the 280 million euros ($300.58 million) it is owed
by Digital Currency Group of the United States, following a deal
in principle reached among DCG and creditors.
The funds had been held at DCG subsidiary Genesis, which
filed for bankruptcy on Jan. 20.
In a statement Bitvavo said it expects the agreement to be
published soon and details to be worked out in the coming weeks.
"The result submitted to the court amounts to an expected
recovery rate of between 80-100% which will be repaid in cash,
digital assets, cash and convertible preferred equity notes in
DCG," the exchange said.
($1 = 0.9315 euros)
(Reporting by Toby Sterling, Editing by Louise Heavens)
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