Craig Wright Aims to Challenge Court Decision That Cost Half His Bitcoins

The entrepreneur has cited Hurricane Dorian as the reason he needs more time to challenge a recent court order.

Sep 2, 2019 at 1:25 p.m. UTC
Updated Sep 13, 2021 at 11:24 a.m. UTC

Craig Wright says bad weather means he needs more time to challenge a court order that he must hand over half of his bitcoin holdings.

The case was brought by Ira Kleiman on behalf of his deceased brother David's estate in 2018. He sought to sue Wright – the entrepreneur who controversially claims he is the inventor of bitcoin – for $10 billion, alleging that Wright had tried to seize his brother’s bitcoin holdings.

On Aug. 26, the judge presiding in the case, Magistrate Judge Bruce E. Reinhart, ruled that Wright must give the Kleiman estate 50 percent of the bitcoin he mined prior to 2014, as well as half his intellectual property. The court considered that Wright had argued in bad faith, committed perjury and admitted false evidence during the case.

In the latest twist to the saga, Wright has entered a new document to the Florida court, seeking more time to challenge the judge's decision.

Blaming the approach of Hurricane Dorian for the need for a time extension to prepare his arguments, Wright says in the document:

"Dr. Wright does not concede that Magistrate Reinhardt had the power to enter the order that he did. However, the time frame that arguably could apply to addressing the legal validity of the purported order would be the 14-day time frame set forth in Rule 72 of the Federal Rules of Civil Procedure. "

It goes to say that with the hurricane due to hit Florida early this week, "counsel for Dr. Wright have been expending significant time preparing for the hurricane, which has limited their ability to work on this matter."

While his response was to have been lodged by Sept. 13, Wright hopes to be given an extra 14 days to file his challenge.

Hurricane image via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
CoinDesk Cardano Price Index (ADX)

CoinDesk - Unknown
2
CoinDesk - Unknown
CoinDesk Smart Contract Platform Select Index (SCPX)

CoinDesk - Unknown
3
CoinDesk - Unknown
First Mover Asia: KuCoin Plans to Bolster DeFi Activity on Its Blockchain After $150M Raise; Cryptos Gain

The crypto exchange will add technical features to support developers and build on KuCoin's public blockchain; bitcoin outperforms ether.

The crypto exchange will add technical features to support developers and build on KuCoin's public blockchain; bitcoin outperforms ether.

CoinDesk - Unknown
4
CoinDesk - Unknown
CFTC Charges 2 Men With Running a $44M Crypto Ponzi Scheme

Sam Ikkurty and Ravishankar Avadhanam are accused of using YouTube videos to dupe would-be clients into investing in various crypto funds.

Sam Ikkurty and Ravishankar Avadhanam are accused of using YouTube videos to dupe would-be clients into investing in various crypto funds.

CoinDesk - Unknown