BlockFi’s $284 million dispute with Three Arrows Capital enters judge mediation

Odaily Planet Daily News Bankruptcy Judge Michael Kaplan of the United States District of New Jersey set up a mediation window to allow lawyers for the two companies to resolve issues mainly involving 3AC’s “priority payment” to BlockFi within January. If the parties cannot resolve the funding issue, Kaplan plans to schedule a two-day hearing on February 5 to debate the funding. The dispute involves large sums of money, involving hundreds of millions of dollars. A key issue in the dispute is when 3AC became insolvent and how that date relates to the hedge fund's payout dates. In court, tensions between the two sides were evident, with BlockFi's lawyers accusing 3AC of having an "out of control" legal counsel that dragged out time and racked up more than $16 million in legal fees. Lawyers for 3AC countered that the comments were "completely inappropriate and flippant". He stressed that 3AC's founders were "evading responsibility" and said they needed to re-establish company records, find assets and protect them for creditors. (CoinDesk)