Tulip Trading Ltd (a Seychelles company) v Bitcoin Association for BSV (a Swiss verein)
| Jurisdiction | England & Wales |
| Judge | Master Clark |
| Judgment Date | 25 January 2022 |
| Neutral Citation | [2022] EWHC 141 (Ch) |
| Docket Number | Case No: BL-2021-000313 |
| Court | Chancery Division |
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3 cases
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Dr Craig Steven Wright v Coinbase Global, Inc.
...are not suitable as security owing to the high level of volatility of such assets. See Tulip Trading Limited v Bitcoin Association [2022] EWHC 141 (Ch) §§43 – 45. ii) the assets are not liquid assets and no information is given as to how quickly funds could be obtained by the Second Claima......
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Steenbok Newco 10 Sarl v Formal Holdings Ltd
...and Danilina v Chernukhin [2018] EWHC 2503 (Comm) were expressly rejected in Tulip Trading Limited v Bitcoin Association for Bsv [2022] EWHC 141 (Ch): (a) At §14, Master Clark noted that Roth J in Phones4U Ltd (in administration) v EE Ltd [2020] Costs L.R. 1065 had rejected at §23 that Da......
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Lum Ooi Lin v Hyflux Ltd (in compulsory liquidation) and others
...of the times. To illustrate, in Tulip Trading Limited (a Seychelles company) v Bitcoin Association for BSV (a Swiss verein) and others [2022] EWHC 141 (Ch), the claimant offered to provide security in the form of Bitcoin by transferring the relevant cryptocurrency to its solicitors who woul......
6 firm's commentaries
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Cryptocurrency Insufficient To Satisfy Test For Security For Costs
...equal to a payment into court or first class guarantee: Tulip Trading Limited v Bitcoin Association for BSV [2022] EWHC 2 (Ch) and [2022] EWHC 141 (Ch). This judgment marks an important step in a case that could be of vital interest to cryptocurrency holders and developers. At the centre of......
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Cryptocurrency Insufficient To Satisfy Test For Security For Costs
...equal to a payment into court or first class guarantee: Tulip Trading Limited v Bitcoin Association for BSV [2022] EWHC 2 (Ch) and [2022] EWHC 141 (Ch). This judgment marks an important step in a case that could be of vital interest to cryptocurrency holders and developers. At the centre of......
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Will Courts Accept Cryptocurrency As A Security For Costs?
...recent English High Court decision, Tulip Trading Limited v Bitcoin Association for BSV [2022] EWHC 2 (Ch) and [2022] EWHC 141 (Ch), the Court refused the claimant's request for security for costs to be paid in Bitcoin. This is the first English case where a party to litigation has sought t......
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Cryptoassets In Litigation: A New 'Tulip Mania'? ' English High Court Clarifies Duties Owed By Cryptocurrency Developers To End Users
...Aaron Leonard and Sam Elliott in helping prepare this article. Footnotes 1. [2022] EWHC 667 (Ch) 2. Ibid at 104 3. [2022] EWHC 2 (Ch); [2022] EWHC 141 (Ch) 4. [2022] EWHC 2 (Ch) at 5. [2022] EWHC 141 (Ch) at 44 6. By way of example, the Ethereum blockchain was forked in 2016 to return appro......
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