Quantum Blockchain Technologies Plc Update on Legal Claim

 
TIDMQBT 
 
1 December 2022 
 
                      Quantum Blockchain Technologies Plc 
                           ( "QBT" or "the Company") 
 
                         Update on Sipiem Legal Claim 
 
The board of Quantum Blockchain Technologies (AIM: QBT) announces that in 
respect of the Company's claim against the previous management team of Sipiem 
in Liquidazione S.r.l ("Sipiem"), eight of the ten defendants have appealed 
against the Venice Court's judgment of first instance in favour of the 
Company's wholly owned subsidiary Clear Leisure 2017 ("CL17"). The Court had 
ordered the defendants to pay CL17 an aggregate amount of ?6,188,974 (plus 
interest and adjustments for inflation to accrue from different dates until the 
date of payment) in damages, plus ?85,499 in legal expenses (together the 
"Award Payment"). 
 
The appealing defendants have requested the Venice Court of Appeal to: 
 
  *  set aside the Venice's Court's judgment, and 
  *  enjoin the enforceability of the Award Payment, until the ruling of the 
    appeals. 
 
The hearings for the defendants' appeals are tentatively set to commence in 
March 2023. The Court of Appeal will set a final date for the first hearing in 
the coming weeks. 
 
Until such hearing and any court order to the contrary, the Award Payment 
remains fully subject to enforcement proceedings. The Venice Court of Appeal 
will decide at the first hearing or in due course, whether to grant the 
requested injunction against enforcement of the Award Payment pending the 
outcome of its eventual ruling on the appeals. 
 
CL17 intends to seek dismissal of the appeals and, as a parallel measure, it 
has instructed its Italian legal counsel to initiate immediately judgment 
enforcement proceedings against all defendants. 
 
For further information please contact: 
 
Quantum Blockchain Technologies Plc 
Francesco Gardin, CEO and Executive Chairman [phone] 
 
SP Angel Corporate Finance (Nominated Adviser & Broker) 
Jeff Keating   [phone] 
Kasia Brzozowska 
 
Leander (Financial PR) 
Christian Taylor-Wilkinson   [phone] 
 
About Quantum Blockchain Technologies Plc 
 
QBT (AIM: QBT) is an AIM listed investment company which has recently realigned 
its strategic focus to technology related investments, with special regard to 
Quantum computing, Blockchain, Cryptocurrencies and AI sectors. The Company has 
commenced an aggressive R&D and investment programme in the dynamic world of 
Blockchain Technology, which includes cryptocurrency mining and other advanced 
blockchain applications. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

December 01, 2022 02:00 ET (07:00 GMT)