Bitcoin SVNews

Craig Wright refuses 500,000 BTC settlement in David Kleinman case

0

Craight Wright, the man who claims to be the inventor of Bitcoin Satoshi Nakamoto, has been involved in an on-going case with David Kleinman. The latest court documents that have been filed on November 1, reveals that Wright has informed the plaintiff that he will not be able to finance the 500,000 BTC ($4.5 billion) settlement.

Wright had previously agreed to pay the dues and had also requested an extension of the deadline to October. The case was close to resolution as the plaintiff had stopped taking further legal action and was focusing on the settlement. As of now, Wright has allegedly broken the agreement to pay the agreed-upon sum.  A part of the court documents read:

“On October 30, without any advance notice, Plaintiffs were informed Craig could no longer finance the settlement and was “breaking” the non-binding settlement agreement. To that end, Plaintiffs began shifting back into preparing for trial (with much lost time).”

The given document is the plaintiff’s expedited motion to depose James Wilson, the CFO of Craig’s companies. The deposition further explains that earlier in September, the plaintiffs discussed a settlement with wright where he implied he had the means to cover the costs.

Since Wright has broken the settlement agreement, the plaintiffs have resumed preparing for trial. As a part of the process, they have asked James Wilson, who was the CFO of Craig’s companies in 2012-2013, which is the time David Kleinman was alive “and Craig alleges he sold Dave interest in his companies in exchange for a fortune of Bitcoin.”

As of October 31, Wilson informed the Council that he will be in Washington D.C and available for testimony on November 8. The defence counsel, however, noted that they weren’t in favour of the aforementioned date. The document explains:

“Under the Local Rules of this District, parties must have 7-days notice for a deposition in Florida, but 14-days notice for an out of state deposition.”

Keeping this in perspective, the plaintiff has requested that Wilson and the defendant are given permission to attend the meeting via video conference as long as the deposition is completed in under 14 days, which is earlier than that required by the law.

The document reads:

“Plaintiffs respectfully request that the Court allow them to depose Mr. Wilson on November 8, 2019 in Washington D.C. on condition they provide Defense counsel with the ability to attend the deposition via video link.” 

Anna Larsen
Anna Larsen has been a Crypto enthusiast since 2016. Fascinated by the technology and its usecases she decided to pursue a career in content creation related to this space. The journey has been exciting ever since.

Blockchain booming for Chinese VCs as markets grow and sentiment warms

Previous article

Cryptocurrency Exchanges are in Tatters but Bitcoin’s Price Holding on

Next article

Comments

Leave a reply

You may also like

More in Bitcoin SV