A Florida state judged ruled that Wright hands over 50% of all BTC holdings mined before 2014 including the IPs.
Citing Hurrican Dorian, Wright’s legal team is seeking a 14-day extension to submit their arguments to the judge.
The controversial Craig Wright never accepts defeat even by the law. A ruling read out by Judge Reinhart in the state of Florida demanded that Wright gives up 50% of all the BTC holdings mined prior to 2014 including all the intellectual property (IP) related to the Kleiman estate.
In an interview following the ruling Wright hinted that he has no problem handing over half of the billion-dollar fortune. However, it appears that he has reconsidered and he is looking forward to challenging the court’s ruling vehemently. His legal counsel in Florida in its latest filing requested for an extension to properly prepare citing challenges brought by the incoming Hurricane Dorian.
On August 27, 2019 the judge’s ruling read in part:
“Any bitcoin mined by Wright prior to David Kleiman’s death (the partnership’s bitcoin) was the property of the partnership when mined. Plaintiffs presently retain an ownership interest in the partnership’s bitcoin and any assets traceable to them.”
The legal team has moved to file a document 278 that asks for “Extension of Time” to allow them to file a motion challenging Magistrate Reinhart’s August 27 order. The extension filing outlines that “Wright does not concede that Magistrate Reinhardt had the power to enter the order that he did.” The legal team needs at least 14 days to submit their argument to the court.
The legal team representing Wright Rivero Mestre LLP explained that:
“Dr. Wright submits that it is crucial that his attorneys have sufficient time to submit his challenge. The testimony and evidence submitted in the two days of evidentiary hearings are voluminous, the facts and legal issues are extremely complex, and the sanctions issued by Magistrate Reinhart go to the heart of the case and the defendant’s ability to defend against the billion-dollar claims lodged against him.”
The crypto space has been abuzz with most people agreeing with the court’s ruling. As long as Wright entered into a 50/50 partnership with Kleiman, it means he has not right over 50% belong to his late partner.
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