DeFi Litigation and the Legal Duties of Blockchain Developers: The Ongoing Impact of the Tulip Trading Appeal

June 13, 2023 10:30am

Matthew Lavy
4 Pump Court (UK)

Sheila Ng
Rajah & Tann Singapore LLP (Singapore)

Mohamed Sacranie
Allen & Overy LLP (UK)

Benjamin Bathgate
Partner, Co-Chair Fraud Law Group
McMillan LLP (Canada)

As a result of the Tulip Trading matter, the UK Court of Appeal has in essence found that the developers of a given network may be a sufficiently well-defined group to be capable of being subject to fiduciary duties; in that “property” has been entrusted into the care of the developers — the developers therefore may have fiduciaries.

The Court of Appeal has ruled that those claims give rise to a “serious issue to be tried” and should therefore proceed to a full trial in London. Join us in this critical discussion as we look at:

  • The impacts of this decision on appeal
  • The importance of establishing jurisdiction
  • What can happen with the legal structure for the DeFi sector