March 6, 2021

The court ordered Ripple to suspend transactions and sales of XRP

According to the news from the website QLawЗ60, the American court of the state of Delaware has issued a preliminary court order in relation to the company Ripple Labs. The suspension of the court will prohibit the company from transacting XRP transactions and redeeming shares.

In particular, the court ordered to maintain a zero balance of the XRP cryptocurrency trade. The stagnation will continue to work until "Tetragon will not be able to redeem its shares."

Occasionally posted on a tweet by a member of the XRP community underNobody WrathofKahneman, the foreman of the court, declared that Tetragon's request for a full purchase of XRP would be "dragon-like". For this reason, the court found it sufficient to oblige Ripple to maintain a "clean zero" position when selling and buying XRP instead of allowing it to supply them

Judging by everything, the decision is humane that Ripple is able to cope with any losses in the price of shares, therefore it can wait for the decision of the SEC.

As is known, the SEC filed a lawsuit at Ripple Labs forI will sell XRP in the quality of uncured securities. As a result, the British asset management company Tetragon Financial Group LTD also submitted to the court on Ripple, requesting the redemption of its shares. The company made the largest contribution in the round of financing of the C series and owns shares in the C series for $ 175 million, which accounts for less than 2% of Ripple's capital.

On January 7, Tetragon submitted an inquiry toa temporary court order due to the clause obliging Ripple to return the shares in the event that XRP is classified as a valuable paper. B cvoom xodatayctve Tetragon dobivalac cudebnogo zappeta, Who would ne pozvolyal Ripple icpolzovat legalno doctupnye denezhnye cpedctva or dpugie likvidnye ASSETS for lyubyx tseley, kpome pogasheniya polnoctyu oplachennyx ppivilegipovannyx ACTIONS Tetragon cepii C.

However, Tetragon, once, overrides the resultsSEC Judicial Procedure against Ripple. The British company believes that the litigation against Ripple Labs will affect the company's share price. In connection with this, the company humaneled its search in the following way:

“We are striving to quickly redeem our shares, before their price has begun to leak, just like water from the bath after the cork is ejected.”

It is stated that the prior notice fromThe SEC, which the Commission sends to organizations before the use of judicial measures in their relation, was a sufficient signal for the redemption of own shares. Also in Tetragon they admit that Ripple has the resources to pay this amount many times.

More so, the British company of the community, thatRipple allegedly threatened to file a preliminary legal action to dissuade the investor from appealing to the court. In addition, the judge of the court declared that he would appoint a preliminary court hearing in this case for February and, if there was no need, one or two hours of hearing.