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Roger Ver’s fight against Chinese bitcoin exchange OKCoin is intensifying as the noted bitcoin investor attempts to have the business liquidated in a Hong Kong court.
The move comes after months of legal wranglings that have already seen the exchange lose one court case. OKCoin's alleged lack of response to the judgement has now prompted Ver to take further action that could ultimately see the company closed.
Ver first sued OKCoin in September, seeking $570,000 plus unspecified damages in a breach-of-contract suit tied to a dispute over the Bitcoin.com domain.
That conflict deepened amid accusations of forgery, as well as impropriety on the part of OKCoin – allegations that exchange representatives swiftly denied.
In the end, Ver went to court, suing OKCoin's Hong Kong entity. At the same time, Ver and attorney Daniel Kelman prepared a suit against the exchange, as well as its chief executive, Star Xu, over the alleged forgery of Ver’s signature. That suit is pending trial.
According to court documents obtained by CoinDesk, OKCoin never responded in court to the breach-of-contract suit. On 17th November, the court handed down a final and interlocutory judgment awarding the $570,000 to Ver.
Yet, according to Ver and Kelman, OKCoin has yet to respond to both the court's decision, as well as further entreaties.
As such, the two say they intend to go ahead with a request for the Hong Kong court to liquidate OKCoin's local entity in a bid to obtain the funds.
The move comes after months of legal wranglings that have already seen the exchange lose one court case. OKCoin's alleged lack of response to the judgement has now prompted Ver to take further action that could ultimately see the company closed.
Ver first sued OKCoin in September, seeking $570,000 plus unspecified damages in a breach-of-contract suit tied to a dispute over the Bitcoin.com domain.
That conflict deepened amid accusations of forgery, as well as impropriety on the part of OKCoin – allegations that exchange representatives swiftly denied.
In the end, Ver went to court, suing OKCoin's Hong Kong entity. At the same time, Ver and attorney Daniel Kelman prepared a suit against the exchange, as well as its chief executive, Star Xu, over the alleged forgery of Ver’s signature. That suit is pending trial.
According to court documents obtained by CoinDesk, OKCoin never responded in court to the breach-of-contract suit. On 17th November, the court handed down a final and interlocutory judgment awarding the $570,000 to Ver.
Yet, according to Ver and Kelman, OKCoin has yet to respond to both the court's decision, as well as further entreaties.
As such, the two say they intend to go ahead with a request for the Hong Kong court to liquidate OKCoin's local entity in a bid to obtain the funds.