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 +39 335 296573
SP Angel Corporate Finance (Nominated Adviser &
Broker)
Jeff Keating +44 (0)20 3470 0470
Kasia Brzozowska
Leander (Financial PR)
Christian Taylor-Wilkinson +44 (0) 7795 168 157
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.