Ogier's international British Virgin Islands law team has been appointed to represent the Bahamian joint provisional liquidators of the collapsed crypto exchange FTX Digital Markets, the largest crypto dispute to date.
Ogier said BVI Courts had recently grappled with a number of novel issues concerning crypto-related frauds and the liquidations of insolvent companies owning crypto assets.
This was the second major cryptocurrency dispute for Ogier's international BVI law team, which works seamlessly across the firm's Asian, Caribbean and European offices, with the team also representing the joint liquidators of cryptocurrency hedge fund, Three Arrows Capital Limited, it said.
Grant Carroll, partner in Ogier's BVI office said: "With the so-called crypto winter making its presence felt, we're seeing growing numbers of crypto disputes hitting our jurisdictions, especially in the Caribbean. This is a dispute of immense significance for the crypto industry, and we're pleased to be representing the joint provisional liquidators of FTX Digital Markets."
Justin Davis, partner in Ogier's Hong Kong office said: "Ogier's ability to provide substantive legal support across Hong Kong and BVI has provided particular value for our clients in the crypto disputes we're seeing.
"Crypto litigation is a fast-developing area of law, which combines the longstanding principles of more "traditional" disputes, including asset recovery, fraud and fund disputes, with new considerations and issues raised by the novel nature of the asset. This is the second major global crypto dispute that our team has been instructed on in the past few months, and we anticipate this trend will continue."
