BSV Founder Craig Wright Pulls Out of Kleiman Settlement - Coindoo
Craig Wright

BSV Founder Craig Wright Pulls Out of Kleiman Settlement

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Nov 3, 2019
2 min reading time

Bitcoin SV founder Craig Wright has finally “pulled out of settlement talks” regarding the Dave Kleiman case, which the court awarded justice last month. The lawsuit was initiated by the estate of Dave Kleiman (now deceased) accusing Wright of supposedly stealing more than five billion dollars worth of Bitcoin.

Delivering the ruling in August, a Florida court compelled Wright to enter into a settlement agreement with the estate of the late Dave Kleiman—his former partner. The presiding judge ruled that Wright owed more than USD$10 billion in the dispute.

Part of the document seen by Bitcoin investor Alister Milne stated:

“Plaintiffs were informed Craig could no longer finance the settlement and was ‘breaking’ the non-binding settlement agreement.”

Source:  Twitter | Alistair Milne

The decision by Wright to pull out of the settlement talks sparked various reactions from both his supporters and critics, especially in social media.

“Craig Wright pulls out of settlement talks with Kleiman…says he can ‘no longer finance’ a settlement. C SW is broke and Calvin Ayre won’t pay? I guess Kleiman wants half of zero instead…”

Time-sensitive Motion

According to the official document, the motion was “time-sensitive” and “required a conclusion by November 7, 2019. Failure to meet the stated deadline would mean “the issue will become moot as the deponent will no longer be available for deposition in the United States.”

Craig Wright, the self-proclaimed Bitcoin creator has been in and out of court since 2018 when Ira Kleiman, the widow of the late Dave Kleiman sued him for allegedly stealing her husband’s wealth after his demise.

A Cry for Justice

Reports reveal that Kleiman supposedly mined nearly 1.1 million BTC together with Wright before he (Kleiman) died in 2013. Therefore, the Kleiman estate wanted Wright to refund half of his crypto fortune to the deceased’s estate.

The long-drawn legal tussle nearly ended on August 27, after a Florida federal court ruled in favor of Kleiman estate, ordering the BSV founder to pay back 50 percent of his Bitcoin and Intellectual Property. However, Wright filed a motion to extend the period before appealing the court order.

With Wright’s withdrawal from the talks, the world waits to see what happens next in this titanic legal tussle.

Featured Image Source: FT Alphaville

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