Craig Wright Plans to Challenge Court Order Payment of 500,000 Bitcoin

In the last incident in an unfolding series of events, the ever-controversial Craig Wright will now challenge the courts. Specifically, Wright was recently ordered to pay a huge sum of around 500,000 Bitcoin. This was to go to the estate of Wright’s late partner, David Kleiman.

Wright will challenge the 500K Bitcoin payment

Wright has been embroiled in a prolonged legal battle with the estate of David Kleiman during the past year. Toshi Times recently reported how Wright had been ordered to pay approximately 500,000 Bitcoin to the Kleiman estate.

At the time, reports said that Wright would not challenge the court decision. However, recently events seem to have disproven this. August 30th saw Wright’s attorney – Andres Rivero – file a document with the US District Court for the Southern District of Florida. 

Moreover, this filing was asking for a two week extension of time to file a motion challenging the court decision. According to the filing, Wright reportedly “does not concede that Magistrate Reinhardt had the power to enter the order that he did”.

Consequently, Wright’s team argues that they will need a further 14 days in order to “address the legal validity of the order”. Before this, any motion that sought to challenge the court order would need to come before September 10th. However, this latest challenges moves that date to September 24th.

Can Wright even access the Bitcoin amount?

Wright’s team is citing the ongoing hurricane situation in Florida as the reason behind the extension. This storm is about to make landfall in Florida, and Rivero argues that the extension request comes in “good faith”. 

“Central and South Florida are currently threatened by a major hurricane. Hurricane Dorian is expected to make landfall in Florida early next week and counsel for Dr. Wright have been expending significant time preparing for the hurricane, which has limited their ability to work on this matter.”

Ever since Wright was ordered to pay this large amount, suspicion has arisen over whether he is able to pay. The crypto podcaster Peter McCormack – who has previously been sued by Wright, so he is far from a neutral party – is leading this line of thinking.

Perhaps most notably, McCormack recently bet $10,000 on Twitter that Wright does not have access to this amount. It remains to be seen how this story continues to develop – and if McCormack’s bet pays off.

Leave a Reply

Your email address will not be published. Required fields are marked *