Federal Judge Orders Mediation for BlockFi and Three Arrows Capital Dispute Over $284 Million Payments
A US bankruptcy judge, in order to resolve the legal battle over a significant $284 million claim by bankrupt crypto hedge fund Three Arrows Capital (3AC) against crypto lender BlockFi, has ordered them to enter mediation.
The mediation process, set to commence in January next year, will be facilitated by a neutral third party and is intended to provide an opportunity for BlockFi and Three Arrows Capital to reach a mutually agreeable settlement. If mediation fails to yield an agreement, the case is slated to proceed to trial in February 2024.
The cause of this dispute is centered around what are termed "preferential payments" made by 3AC to BlockFi before the declaration of bankruptcy.
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Federal Judge Orders Mediation for BlockFi and Three Arrows Capital Dispute Over $284 Million Payments
A US bankruptcy judge, in order to resolve the legal battle over a significant $284 million claim by bankrupt crypto hedge fund Three Arrows Capital (3AC) against crypto lender BlockFi, has ordered them to enter mediation.
The mediation process, set to commence in January next year, will be facilitated by a neutral third party and is intended to provide an opportunity for BlockFi and Three Arrows Capital to reach a mutually agreeable settlement. If mediation fails to yield an agreement, the case is slated to proceed to trial in February 2024.
The cause of this dispute is centered around what are termed "preferential payments" made by 3AC to BlockFi before the declaration of bankruptcy.
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