Singapore court freezes sale, transfer of a Bored Ape Yacht Club NFT
SINGAPORE’S courts have granted a proprietary injunction to freeze the sale and ownership transfer of a Bored Ape Yacht Club (BAYC) non-fungible token (NFT), on behalf of a Singaporean investor against an unknown defendant.
The injunction was ordered on May 13 in the High Court and will be effective until after a trial of the matter. The investor, identified as Janesh Rajkumar on a court hearing list, is arguing for an equitable proprietary claim over the NFT, and accusing the defendant of wrongful conversion of the NFT as well as a breach of contract.
In January this year, Rajkumar reached out to the defendant, known only by the pseudonym chefpierre.eth, to refinance an existing cryptocurrency loan, according to a statement of claim presented before the court.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
Barclays is the latest firm to face anti-ESG wrath in Oklahoma
Barclays prices mortgage-backed notes in deal with GoldenTree
TD risks an earnings hit from US laundering probe, analysts say