BSV Claims Limited v Bittylicious Limited & Ors

BSV Claims Limited v Bittylicious Limited & Ors

Sub-class B holders who knew or ought to have known of the delisting events could and should have mitigated their losses by selling BSV and purchasing substitute cryptocurrencies; claims for damages based on foregone growth or loss of a chance are irrecoverable in law for these holders.

Parties
Applicant/appellant: BSV Claims Limited; Respondent: Bittylicious Limited; Respondent: Payward Limited; Respondent: ShapeShift Global Limited; Respondent: Payward, Inc.; Respondent: ShapeShift A. G.; Respondent: Binance Europe Services Limited
Jurisdiction
England and Wales
Judgment Date
21 May 2025
Procedural Posture
Appeal / Judgment on Appeal From Competition Appeals Tribunal, Post Strike Out Application
Outcome
Appeal dismissed
Legal Topics
Market Mitigation Rule, Damages Assessment, Loss of Chance, Collective Proceedings, Cryptocurrency Delisting, Strike Out Application
Competition Law Civil Procedure Market Mitigation Rule Damages Assessment Loss of Chance Collective Proceedings Cryptocurrency Delisting Strike Out Application

Case Brief

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Parties

BSV Claims Limited

Applicant/appellant

Bittylicious Limited

Respondent

Payward Limited

Respondent

ShapeShift Global Limited

Respondent

Payward, Inc.

Respondent

ShapeShift A. G.

Respondent

Binance Europe Services Limited

Respondent

Procedural Posture

Appeal / Judgment on Appeal From Competition Appeals Tribunal, Post Strike Out Application

Legal Issues

  1. 1 Whether sub-class B holders can claim damages beyond immediate loss after delisting events
  2. 2 Applicability of market mitigation rule to cryptocurrency assets
  3. 3 Sustainability of loss of a chance claim for foregone growth effect

Ratio Decidendi

Sub-class B holders who knew or ought to have known of the delisting events could and should have mitigated their losses by selling BSV and purchasing substitute cryptocurrencies; claims for damages based on foregone growth or loss of a chance are irrecoverable in law for these holders.

Court Disposition

Appeal dismissed

Orders

  • Binance's application succeeded in striking out sub-class B's claims for damages beyond immediate loss and for loss of a chance.
  • Parties to agree a suitable order reflecting the judgment.