BlockFi Cannot Move Crypto Lending Combination Out of California, Panel Says

0
By Sarah Jarvis (June 15, 2022, 9:33 p.m. EDT) – A California appeals panel overturned a lower court order applying a Delaware forum selection clause in a borrower’s lawsuit against BlockFi Lending LLC , finding the borrower’s inalienable right to a jury trial could be violated if the case proceeds in Delaware.

In an unpublished opinion filed Tuesday, the panel reversed an August 2020 opinion from the Los Angeles Superior Court, which had stayed George J. Gerro’s lawsuit against BlockFi and its loan payment processor Scratch Services LLC. Gerro had borrowed over $2.2 million from BlockFi and pledged his bitcoin as collateral, but sued BlockFi for selling his bitcoin when…

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
  • Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and more!

TRY LAW360 FREE FOR SEVEN DAYS

Share.

Comments are closed.