Igor Chuprin, the founder of Zotobi Management Limited, demanded that Telegram return investments in the Telegram Open Network (TON) project in full. However, the court dismissed the claim, writes Forbes.
Chuprin became an investor in TON in 2018 year. He invested $ 1 million in the project, whether it was only his own funds is unknown.
In April 110 Pavel Durov notified that there will be no TON launch. He suggested that investors either receive % of the funds immediately, or leave the funds as a loan and receive 110% before April 2021 year.
Soon after that, in May 2020 of the year, Chuprin filed a lawsuit in an attempt to return all the money invested – he did not want to provide funds as a loan, but, in addition to 280%, intended to receive the remaining $30 000.
According to him, he made the decision to invest in TON in a hurry and did not receive any risk documents.
On February 6, the London Court of International Arbitration rejected Chuprin’s claim against Telegram Group and TON Issuer. In addition, he decided to cover the legal costs of Telegram for $ 700 and the costs of the ships almost £ .
The court considered that Chuprin either got acquainted with the documents, since they were distributed on the network and discussed in the blockchain community, or “understood all the risks, and it did not bother him.”
The token purchase agreement signed by the founder of Zotobi Management Limited states that he has become familiar with the risks.
The plaintiff’s representative insisted that Telegram could still launch TON US jurisdiction and distribute tokens to investors from other countries. However, Pavel Durov stated in court that the team considered such a launch “very dangerous.”
The court indicated that Zotobi “it was better to accept Telegram’s alternative loan offer.”
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