February 28, 2021

Cryptheory

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The multi-billion case continues: Craig Wright has to pay $ 166,000 of court costs by the end of March

2 min read
The multi-billion case continues: Craig Wright has to pay $ 166,000 of court costs by the end of March

The defendant computer scientist, founder of the Bitcoin SV cryptocurrency (BCHSV) and self-proclaimed Satoshi Nakamoto was ordered by the court to pay the counterparty’s legal costs. However, the court initially called for $ 658,500 to be disproportionately overvalued and recognized approximately a quarter, or $ 165,800.

 

Craig Wright now has to pay this amount for the costs of the expert opinion and fees of the legal team that represents Ira Kleiman, brother of Wright’s deceased business partner. He demands 50 percent of the bitcoin (BTC) that Wright and Dave Kleiman were to mine together in the early stages of Bitcoin.

 

Although Covid-19 has slowed the judicial system, the court has now decided to make a decision. According to Judge Bruce Reinhart of a federal court in southern Florida, Kleiman’s 4-member legal team charged rates that were disproportionate to the amount normally charged in the Florida court system. Also the invoiced hours were exaggerated.

“I consider all these rates too high. I am personally familiar with the hourly rates charged by the Supreme Civil Judges in Palm Beach County .. ”

 

The reason why the court has now ordered Wright to pay the fees and costs in an adjusted amount is the duration of the dispute. Obviously, this is also a consequence of falsification of documents and failure to comply with the previous regulation, that the self-proclaimed Satoshi need to provide better evidence and documentation of his alleged ownership of approximately 1.1 million BTC in Tulip Trust funds. Although Wright has to pay nearly $ 166,000 by the end of March, the billions of dollars litigation continues.

 

 

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