Acrostic reflections on injunctions in cryptoasset cases

Inspired by the ever-evolving story of fintech, Chloë Bell showcases her poetic talents to pen a very different kind of advice note looking at injunctions in cryptoasset cases.

In this acrostic poem, Chloë reflects on the requirements when making an application for a freezing injunction and the logical conundrum in the ‘Persons Unknown’ case.

Norwich Pharmacal relief – Chloë analyses the pragmatic approach taken by the court in the case as well as the conflicting case-law resulting from it. She also considers the questions which require further appellate consideration.

The article comments on Jurisdiction and the CPR PD 6B gateways and the Use of expert reports in digital asset injunction applications, as well as asset preservation orders existing as an alternative to freezing injunctions. Never assume that because assets have been misappropriated that a freezing injunction will follow.

Chloë goes on to discuss what is needed to satisfy the the balance of convenience Test as well as how to sufficiently describe and Identify the ‘persons’ in injunctions against Persons Unknown. Likely requirements such as signed affidavit evidence and Orders for alternative service are considered as well as why it is important to identify the causes of action and the defendants against whom they are sought.

Not adequately identifying causes of action and the defendants against whom they are sought will be problematic. So, read Chloë’s full poem for a detailed reflection on injunctions in cryptoasset cases here.

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Chloë Bell has a fast growing commercial and chancery practice. She has provided advice in a number of cases on the interpretation of contracts and has experience appearing led and as sole counsel in court on commercial matters. She has a particular interest in cryptoassets, smart contracts and the future of commercial law in these areas, writing on this topic and giving a number of talks on the subject.

If you have enquiries or questions about cases involving cryptoasset injunctions or misappropriation of cryptoassets, please do not hesitate Chloë’s clerks Sam Carter on +44 (0)203 989 6669 or Colin Bunyan on +44 (0)20 7427 4886.

Legal Blogs 23 Jun, 2021