Aceris Law is pleased to announce that it has secured another highly favorable outcome for a large Hong Kong-based company in a cryptocurrency-related dispute taking place under the laws of the Seychelles.
The ICC arbitration, initiated by Aceris Law in February 2023, concerned a multimillion-dollar transaction for the purchase of cryptocurrency assets. Following a security incident, the Respondent, a large cryptocurrency exchange, did not fulfill the terms of multiple automated orders.
The arbitration raised novel issues concerning the awarding of losses in Tether stablecoins, as well as the application of limitation of liability provisions that purported to exclude liability in all circumstances.
Aceris Law’s client received compensation for the totality of Tether stablecoins disbursed on the transaction, converted to US dollars, as well as an award of interest and all costs associated with the arbitration proceedings.
William Kirtley, Anastasia Tzevelekou, Zuzana Vysudilova and Nina Jankovic served as counsel in the ICC arbitration, along with other members of Aceris Law’s team.
Aceris Law has successfully spearheaded a number of prior arbitration proceedings related to blockchain technology, including the publicly reported ICDR arbitration Monsoon Blockchain Storage, Inc. v. Magic Micro Co. While transactions involving cutting-edge technologies unsurprisingly generate disputes, and require understanding the technologies in question, the tools to resolve them remain grounded in historical contract law and tort law, which remain up to this task.
Aceris Law, a leading boutique international arbitration law firm that provides international arbitration legal representation globally, is known for its outstanding track record, unwavering commitment to its clients, and always reasonable legal fees for the highest quality international arbitration legal representation. With two decades of international arbitration experience, its arbitration lawyers serve clients globally.
