Ion Science Ltd & Anor v Persons Unknown & Ors [2020] EWHC 3688 (Comm) (21 December 2020)

Ion Science Ltd & Anor v Persons Unknown & Ors [2020] EWHC 3688 (Comm) (21 December 2020)

The court was satisfied that cryptoassets are property, that there was a serious issue to be tried on the merits of the claim in deceit, conspiracy, and proprietary claim, that the English court had jurisdiction, and that the claimants were entitled to proprietary injunction, worldwide freezing order, and disclosure orders against the exchanges to trace the assets. Exceptional urgency and risk of dissipation justified alternative service.

Citation
[2020] EWHC 3688 (Comm)
Parties
Claimant/applicant: ION Science Limited; Claimant/applicant: Duncan Johns; Defendant/respondent: Persons Unknown (connected to 'Neo Capital', aliases Marilyn Black, Claire Jones, Robert Welsh, Carey Jones, Mia Davis, Grant Ford); Defendant/respondent: Binance Holdings Limited; Defendant/respondent: Payment Ventures Inc.
Jurisdiction
England and Wales
Judgment Date
21 December 2020
Procedural Posture
Ex Parte Urgent Application (commercial Court) / Interim Relief (proprietary Injunction, Freezing Order, Disclosure Order, Permission for Service Out and by Alternative Means)
Outcome
Application granted
Legal Topics
Proprietary Injunction, Worldwide Freezing Order, Ancillary Disclosure Order, Bankers Trust Order, Service Out of Jurisdiction, Alternative Service, Persons Unknown, Jurisdiction, Cryptoassets as Property
Civil Procedure Fraud Equity Cryptocurrency Law Proprietary Injunction Worldwide Freezing Order Ancillary Disclosure Order Bankers Trust Order +5 more

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Parties

ION Science Limited

Claimant/applicant

Duncan Johns

Claimant/applicant

Persons Unknown (connected to 'Neo Capital', aliases Marilyn Black, Claire Jones, Robert Welsh, Carey Jones, Mia Davis, Grant Ford)

Defendant/respondent

Binance Holdings Limited

Defendant/respondent

Payment Ventures Inc.

Defendant/respondent

Procedural Posture

Ex Parte Urgent Application (commercial Court) / Interim Relief (proprietary Injunction, Freezing Order, Disclosure Order, Permission for Service Out and by Alternative Means)

Legal Issues

  1. 1 Whether cryptoassets such as bitcoin are property at common law
  2. 2 Whether the court has jurisdiction over persons unknown
  3. 3 Whether claimants are entitled to proprietary injunction, worldwide freezing order, and disclosure orders

Ratio Decidendi

The court was satisfied that cryptoassets are property, that there was a serious issue to be tried on the merits of the claim in deceit, conspiracy, and proprietary claim, that the English court had jurisdiction, and that the claimants were entitled to proprietary injunction, worldwide freezing order, and disclosure orders against the exchanges to trace the assets. Exceptional urgency and risk of dissipation justified alternative service.

Court Disposition

Application granted

Orders

  • Proprietary injunction against persons unknown (Neo Capital)
  • Worldwide freezing order against persons unknown (Neo Capital)