Caselaw Digest
Caselaw Digest

Crypto Open Patent Alliance v Craig Steven Wright (WFO Application)

28 March 2024
[2024] EWHC 743 (Ch)
High Court
A court froze £6 million of Dr. Craig Wright's assets because he lost a big court case and there were worries he'd hide his money to avoid paying the costs. The court decided it was fair to freeze his assets even though the exact amount he owes isn't settled yet, because there's strong evidence he might try to hide the money.

Key Facts

  • Crypto Open Patent Alliance (COPA) obtained a worldwide freezing order (WFO) against Dr. Craig Wright for £6 million.
  • The WFO was granted in relation to Dr. Wright's likely costs liability following a trial where COPA successfully proved Dr. Wright was not Satoshi Nakamoto.
  • The application for the WFO was made on short notice due to concerns about Dr. Wright dissipating assets.
  • Dr. Wright transferred shares in RCJBR Holding plc to an offshore company shortly after the trial's conclusion.
  • COPA's total costs exceeded £6.5 million.
  • The court considered the jurisdiction to grant a freezing order for prospective costs and ultimately found it appropriate in these circumstances.

Legal Principles

Jurisdiction to grant a freezing order for prospective costs orders.

Various authorities, including *Jet West Ltd v. Haddican*, *Cooke v Venulum Property Investments Ltd*, *Convoy Collateral Ltd v Broad Idea International Ltd*, *Re G*, and *Santina Limited v Rare Art (London) Ltd*.

Conditions for granting a freezing order: (i) good arguable case on the merits; (ii) real risk of asset dissipation; (iii) just in all circumstances.

General principles of freezing order jurisprudence.

Assessment of risk of dissipation considers various factors including dishonesty, asset transfers, prior defaults, and asset structures.

*Fundo Soberano de Angola v Jose Filomeno dos Santos*, and other cases cited in sections 28-42.

Delay in applying for a freezing order is a relevant but not determinative factor in assessing risk of dissipation.

*JSC Mezhdunarodniy Bank v Pugachev*, *Gulf International v Aldwood*, and *Antonio Gramsci v Recoletos*.

Outcomes

Worldwide freezing order of £6 million granted against Dr. Craig Wright.

COPA demonstrated a strong case for costs recovery, a real risk of asset dissipation by Dr. Wright, and the justice of granting the order considering all circumstances. The court found jurisdiction to grant a freezing order for prospective costs.

Costs applications by COPA and the Developers to be determined later, after Dr. Wright's legal team has had time to prepare.

To ensure fairness and allow Dr. Wright's team to present counterarguments on costs.

Directions given for asset disclosure by Dr. Wright.

To aid in the enforcement of the freezing order.

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