RE: I've got a sneaky suspicion RBK was here to get the placing churned........27 Feb 2025 14:32
I think you're right Hex.
Initially, a settlement of β¬700,000 was agreed between Quantum Blockchain Technologies' subsidiary Clear Leisure 2017 Ltd (CL17) and some of the Sipiem case defendants.
This settlement was to be paid in two installments within 20 and 30 days from the agreement date.
Simultaneously, QBT reached an agreement with Sipiem's receiver to acquire the receiver's right to 30% of any sums collected for β¬170,000.
However, on June 10, 2024, the Court of Appeal of Venice issued a new judgment that upheld most of the original damages awarded to CL17, with a minor reduction.
As a result of this new judgment, the previously agreed β¬700,000 settlement appears to have been superseded. The announcement on June 18, 2024, states: "As previously disclosed in the Company's announcements of 16 May and 4 June 2024, a settlement agreement of β¬700,000, with certain defendants has been deemed void following the appeal ruling".
Therefore, it appears that the β¬700,000 settlement offer has been withdrawn following the new court ruling, and QBT is now focusing on collecting the full judgment amount of approximately β¬6.1 million plus interest and adjustments for inflation.