Digital Capital Ltd v Genesis Mining Iceland EHF [2021] EWHC 2462 (Comm) (08 September 2021)
The court found Digital Capital did not repudiate the agreement and substantially performed its obligations; Genesis Mining Iceland's purported termination was itself a repudiatory breach, entitling Digital Capital to payment of invoices and damages for lost profits.
- Citation
- [2021] EWHC 2462 (Comm)
- Parties
- Claimant: Digital Capital Limited; Defendant: Genesis Mining Iceland E. H. F.
- Jurisdiction
- England and Wales
- Judgment Date
- 08 September 2021
- Procedural Posture
- Commercial Contract Dispute / High Court Trial Judgment
- Outcome
- Claim allowed; counterclaim dismissed
- Legal Topics
- Repudiatory Breach, Damages, Restitution, Software and Regulatory Services, Cryptocurrency, E Money Licensing
Case Brief
Summary, issues, holding and outcome
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Parties
Digital Capital Limited
Claimant
Genesis Mining Iceland E. H. F.
Defendant
Procedural Posture
Commercial Contract Dispute / High Court Trial Judgment
Legal Issues
- 1 Whether Digital Capital breached the service agreement
- 2 Whether Genesis Mining Iceland repudiated the agreement
- 3 Entitlement to payment for invoices and damages
Ratio Decidendi
The court found Digital Capital did not repudiate the agreement and substantially performed its obligations; Genesis Mining Iceland's purported termination was itself a repudiatory breach, entitling Digital Capital to payment of invoices and damages for lost profits.
Court Disposition
Claim allowed; counterclaim dismissed
Orders
- Genesis Mining Iceland to pay Digital Capital the invoiced amounts under the agreement
- Genesis Mining Iceland to pay damages for wrongful repudiation
Full Case Text
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