CoinLab vs. Mt. Gox lawsuit for $75 million is still underway.

[Nagle]

It hasn't been in the news in months, but the $75 million suit by CoinLab against Mt. Gox is still underway and headed for trial in November 2014. This is a big hammer hanging over Mt. Gox.

Jury Trial is set for 11/3/2014 at 09:00 AM in Courtroom 14206 before Judge Marsha J. Pechman.
United States District Court, Western District of Washington at Seattle.

Length of Trial: 10 days

Schedule:
Joinder of Parties due by 11/14/2013,
Amended Pleadings due by 11/25/2013,
Expert Witness Disclosure/Reports under FRCP 26(a)(2) due by 4/7/2014,
Motions due by 5/7/2014
Discovery completed by 6/6/2014
Dispositive motions due by 7/7/2014
Motions in Limine due by 9/29/2014
Pretrial Order due by 10/22/2014
Trial briefs to be submitted by 10/22/2014
Proposed voir dire/jury instructions due by 10/22/2014
Pretrial Conference set for 10/24/2014 at 02:30 PM before Judge Marsha J. Pechman

Mt. Gox and Tibanne are represented by two US law firms, and various routine motions have been filed by both sides. There's no claim that the US courts don't have jurisdiction. One party is a US company, and that's good enough. So, yes, you can sue Mt. Gox in a US Federal Court.

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[repentance]

Mt. Gox and Tibanne are represented by two US law firms, and various routine motions have been filed by both sides. There's no claim that the US courts don't have jurisdiction. One party is a US company, and that's good enough. So, yes, you can sue Mt. Gox in a US Federal Court.

The contract itself almost certainly had a jurisdiction clause so that issue was probably never open to question.

[BCB]

I would think that Coinlab would have more to worry about than MtGox.  Take a look at the Alydian lawsuits to see how Coinlabs does business. 

[repentance]

I would think that Coinlab would have more to worry about than MtGox.  Take a look at the Alydian lawsuits to see how Coinlabs does business.  

That may be true but it's still going to be costing MtGox and Tibbane a pretty penny in legal fees until the matter is determined (remember there are two actions here - one by Coinlab against MtGox and a counterclaim for the return of ~$5 million by MtGox against Coinlab).  MtGox may well prevail, but it could still be a while before they get their $5 million back and and their legal fees reimbursed (and Coinlab may well appeal any judgement against them).

Who knows whether Coinlab even has the capacity to pay any judgement against them?  MtGox could win the battle and lose the war on that one.

On a slightly related note, Brian Cartmell must be starting to feel like the angel of death where Bitcoin is concerned.

[BCB]

Who knows whether Coinlab even has the capacity to pay any judgement against them?

He has a bunch of bitcoin according the the Alydian lawsuit. 

Be interesting to see how this pans out.

[techgeek]

Holy crap, I totally forgot about the coinlab incident.

Sucks how a venture partnership went sour quick lol.

[dreamspark]

Meh Mark made that this week...

[bananas]

That's even more scary fot hose who have money in mtgox. If CoinLab wins, mtgox is brakrupt for a matter of fact.

[Walsoraj]

After appeals and a retrial, this case will conclude by 2018 at the earliest. 

[bananas]

After appeals and a retrial, this case will conclude by 2018 at the earliest. 

Money may be frozen before.

[flower1024]

After appeals and a retrial, this case will conclude by 2018 at the earliest. 

Money may be frozen before.

afaik US funds are frozen a long time ago