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

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In an unpublished opinion filed Tuesday, the panel reversed an August 2020 opinion from the Los Angeles Superior Court, which had stayed George J. Gerro’s lawsuit against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…

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