New Zealand Crypto Exchange Wants US Bankruptcy Cover

Law360 (May 24, 2019, 3:44 PM EDT) -- A New Zealand-based online asset exchange undergoing liquidation in its home country is asking a New York bankruptcy court to protect as much as $130 million in client assets that it says are being held by an Arizona-based server company, according to a Friday memorandum.

Cryptopia Limited told a New York bankruptcy judge that the Chapter 15 protection it seeks is critical as it undergoes liquidation in New Zealand as it can't be sure that Phoenix NAP LLC, which operates the stateside servers, will preserve its customers’ remaining digital assets, valued between $110 million and $130 million.

The New Zealand company...

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