The Daniel Patrick Moynihan U.S. Courthouse in the Southern District of New York. (Photo: Ryland West/ALM) Nasdaq-Traded Blockchain Company Countersues Financer Over 'Toxic Lending Practices'
"The parties never discussed these changes, which would result—if enforced in the case of a breach—in an unconscionable contract," Michael B. Carlinsky, co-managing partner at Quinn Emanuel Urquhart & Sullivan, wrote in the counterclaim.
October 15, 2024 at 04:53 PM
4 minute read
What You Need to Know
- Ayrton Capital LLC sued Bitdeer Technologies Group in July for damages in excess of $32 million.
- Bitdeer filed a counterclaim on Monday for a declaratory judgment of unenforceability.
- Ayrton is represented by Global 100 law firm Freshfields Bruckhaus Deringer, while Bitdeer's counsel is from Am Law 20 firm Quinn Emanuel Urquhart & Sullivan.
A Nasdaq-traded blockchain company has fired back at an investment firm in a Manhattan federal district court over its eight-figure complaint, claiming that the action was the latest in a string of lawsuits in which borrowers have found themselves subjected to the financier's "toxic lending practices."
Michael B. Carlinsky, co-managing partner and global head of complex litigation at Quinn Emanuel Urquhart & Sullivan, is the lead attorney for the counterplaintiff, Bitdeer Technologies Group, which sued the counterdefendant, Ayrton Capital LLC. In the filing, Bitdeer cited that in 2023, Ayrton was accused of operating as an unlicensed broker-dealer after ensnaring a small-cap public company in a "death spiral" lending scheme.
Michael B. Carlinsky (Photo: Ryland West/ALM) NOT FOR REPRINT
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