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DGAP-Adhoc: Advanced Bitcoin Technologies AG: Update on the Resumption of Non-Acceptance in the Wallet Delivery Procedure of saveroid AG | 03/19/22

DGAP-Ad-hoc: Advanced Bitcoin Technologies AG / Keywords: Legal Issue / Cryptocurrency / Blockchain
Advanced Bitcoin Technologies AG: Update on a complaint about non-acceptance of saveroid AG’s wallet editing procedure

03/19/2022 / 16:56 CET / CEST
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Advanced Bitcoin Technologies AG: Update on a complaint about non-acceptance of saveroid AG’s wallet editing procedure

Frankfurt, March 19, 2022 – The former ICO Secretary of saveroid AG has filed an inadmissibility appeal to the Federal Court of Justice in the wallet-delivery proceeding against the second instance judgment of the Cologne High Court in favor of Saveroid AG. The complaint of non-acceptance must be justified by the opposing party by March 28, 2022 at the latest. Accordingly, there is currently no justification for a complaint of inadmissibility to Savroid AG. Lawyers for Savroid AG still do not see any prospects of success in the inadmissibility appeal to the Federal Court of Justice.

In October 2021, the Cologne Higher Regional Court ordered the former ICO custodian of Saveroid AG to transfer cryptocurrencies he held from the company’s ICO (initial coin offering) with a total value currently of about €27.9 million to the new custodian who had already authorized saveroid AG until You are finally able to fulfill the only remaining payment requirement, which is the public call on whether buyers have received SVD tokens and then transfer the cryptocurrency to the saved Android AG. Thus the Higher Regional Court in Cologne had essentially confirmed the first instance judgment of the Regional Court of Bonn in February 2020.

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saveroid AG is a 100% subsidiary of Advanced Bitcoin Technologies AG (ABT, ISIN: DE000A2YPJ22). More details and background information on the wallet handover procedure of Saveroid AG against the former ICO custodian can be found in our dedicated announcement of October 15, 2021: https://www.dgap.de/dgap/News/adhoc/advanced-bitcoin-technologies-savedroid-wint-auch-zert-instance-den-rechtskampf-wallether issue-method/? newsID = 1481499

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03/19/2022 CET/CEST DGAP distribution services include legal reporting requirements, company news/financial news and press releases.
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