Moopay LTD and ex-CEO Alex Green have been ordered by a UK court to hand over 750 BTC to the team that developed the syscoin cryptocurrency.
The final injunction, issued by the High Court in London, was granted in response to a request from UK-based law firm Selachii LLP on behalf of syscoin.
Moopay, known commonly as Moolah, and Green had been holding the money for the developers and have now been ordered to repay the 750 BTC before 16:00 tomorrow.
The move follows an emergency injunction granted on Friday by the High Court.
At the time, the team's legal counsel advised the court that bitcoins owed to their clients were beginning to be moved.
Selachii announced the final injunction on Twitter, issuing an advisory to Moolah's Twitter account following several unsuccessful attempts to make contact.
Moolah io Final Injunction granted today served by email and at your home address.
CoinDesk spoke with syscoin manager and developer Dan Wasyluk, who said that the process of reclaiming the held funds won't happen overnight.
Wasyluk said, neither Green or his legal representation have responded to messages or court documents.
The legal fight over the ICO funds began amid a funding crisis at Moolah and the subsequent resignation of Green.
UK High Court Orders Moolah to Hand Over Syscoin's 750 BTC
gepubliceerd op Oct 27, 2014
by Coindesk | gepubliceerd op Coinage
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