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High Court sets aside interim proprietary injunction against cryptocurrency exchange Binance (Piroozzadeh v Persons Unknown)

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Published on: 05 May 2023

Published by a LexisNexis Dispute Resolution expert

Table of contents

Background
Decision
The without notice application
Full and frank disclosure
Potential defences
Adequacy of damages
How Binance could comply in practice
Conclusion on full and frank disclosure
Serious issue to be tried

Article summary

Dispute Resolution analysis: A recent decision of the High Court has discharged an interim proprietary injunction against the cryptocurrency exchange Binance which required it to preserve certain cryptocurrency that the claimant, the alleged victim of a cryptocurrency fraud, claimed to be able to trace to the exchange. In this article Chris Bushell and Gary Horlock at Herbert Smith Freehills examine the case and its implications.

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