Just saw this on reddit!!!!!!!Hey all - just attaching a summary of today's ongoings in the Royal Courts of Justice, in the case of MooPay vs. Wasyluk (representing SYSCoin).
Unfortunately, with yesterdays post, I could not reveal 100% of the information at the time, as it's important that with all posts of this nature, we have to ensure that the information we're sharing is both accurate, and can be safely (and legally!) shared with the public; and also to ensure that no information is revealed from the plantiff's camp which Kennedy may not be aware of.
Now, moving on - the main question asked yesterday was "Why does Ryan HAVE to show up to this court case?".
This particular court date actually happened, because Ryan Kennedy demanded that SYSCoin put forward £100,000 in securities to cover any potential legal costs suffered by Ryan Kennedy. This type of request also has the additional side-effect of prolonging a case, and adding to the legal fee's of a plaintiff (due to them needing to present an argument against paying such security costs etc). It was assumed that due to the large asking price, and the evidence against Kennedy requiring such securities, that he would be present in court.
Proceedings went as follows;
- Court was presided over by His Honor, Judge Seymour.
- Ryan Kennedy failed to attend this court date. Kennedy's solicitors were present.
- The initial asking of £100,000 in securities was "laughed off" by His Honor, Judge Seymour.
- It was confirmed that Kennedy's legal case was not prepared correctly; no agenda nor list of costs were offered to justify the asking of £100,000 in securities.
- Kennedy has the right to request a 'fortification' hearing; requiring him to prepare all relevant paperwork and evidences of costs accruing £100,000 in securities.
- Kennedy's solicitors instead suggested £13,000 in securities, which was again "laughable", and further rejected by His Honor, Judge Seymour.
- Kennedy's solicitors continued to negotiate downwards; eventually settling on £4,000 in securities.
- His Honor, Judge Seymour found this amount to be "overly generous" to Kennedy, and instead lowered the required securities to £2,000.
- His Honor, Judge Seymour stated that if Kennedy maintains possession of the 750 BTC, that he is required to pay these to SYSCoin by close of business, today.
- In the case where Kennedy does not pay the aforementioned 750BTC, the case will proceed as planned.
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All in all, today's proceedings were extremely positive for SYSCoin. It is expected at this point that Kennedy will not transfer 750BTC to the SYSCoin team, due to his argument being that these coins are no longer in his possession due to a security exploit.
The victory today was in that any alleged attempts towards "draining SYSCoin of their legal funds", or any alleged "stall tactics" by requiring a very large security deposit, was quickly thrown out by the Judge; and a precedent was firmly set that the plantiffs (SYSCoin) are due their 750BTC.
With the SYS Court case, it's important to remember that this particular case is what opens the floodgates; in the event that Kennedy or MooPay Ltd is found guilty of any criminal or fraudulent action, an extremely strong basis is set for any future court cases; such as the MintPal case, or any class action case by Moolah PIE investors.
Right now however, the important part of this case is getting all the potential stall tactics, and "legal fund drain" tactics out of the way; as thankfully, once all of these avenues have been exhausted for Kennedy, the only option left is to stand trial. And in the situation where an extremely similar case (ala MintPal, PIE investors) were to appear before a judge immediately afterwards, a repeat of stall tactics simply will not fly.
All in all, the point to take from all this is that while it certainly isn't the final blow we're all waiting on, it was definitely a huge step in the right direction for the cases against Kennedy and MooPay/Moolah; and a massive step towards setting the precedent that scamming in crypto is exactly as dangerous as scamming with fiat when it comes to the courthouses.
from
http://www.reddit.com/r/dogecoin/comments/2noucz/moolah_in_court_day_zero_kennedy_ordered_to_pay/