It became known that the investment fund DA VINCI CAPITAL initiated the arbitration process in London against Telegram. The proceedings are associated with “not fully the correct” offer of Telegram on the return of cash investors embedded in the failed cryptocurrency Ton. About this writes RBC with reference to the words of the managing partner Da Vinci Capital Oleg Zhelezko.
«Our Foundation This offer came out somewhere 24 hours before Deadline, and many of our investors simply did not receive a physical opportunity to analyze documents and, accordingly, to get an adequate return to those investments that were made, “said Mr. Zhelezko. He also noted that after the Securities and Exchange Commission (SEC) blocked the launch of Ton, investors came different contradictory messages regarding the possibility of launching cryptocurrencies. “There were quite a lot of heavy communication moments, and investors were very hard to make the right decision to take money back either to convert on credit,” Mr. Zhelezko explained.
It is also known that investors DA VINCI CAPITAL notified the founder of Telegram Pavel Durov and other top managers of the company about the intention to file a claim to Ton Inc. and Telegram Inc. at the end of February. They demanded compensation for damage due to a failed project, which was rated several million dollars. According to the lawyers of the London Office of Skadden, representing the interests of Telegram, such claims are unlikely to be met by the court, since “the contract has clearly discussed both the costs and risks.”
Referring to its own source, RBC noted that after filing the claim, the representatives of DA Vinci Capital were repeatedly tried to contact Telegram leadership for a peaceful settlement of disagreements. However, the company’s top management did not go to the meeting, “considering such claims absurd.”