Investors To Sue Durov
Pay Super CEO Dmitry Machikhin said that some investors of the TON cryptocurrency project can demand compensation for losses incurred in violation of the investment agreement. But first of all, the ICO Telegram participants will have to decide on two key things: jurisdiction and the subject of the claim.
“Sure, the document will not be compiled against Durov personally. First of all, he is not the sole owner of Telegram and the TON project. Secondly, legally, Telegram is not related to the TON project. For this, there were special legal entities created along with a SAFT contract, providing the right to receive digital property in the future, in this case, tokens.”
It is important to understand that not all Gram holders bought coins directly from the company of Pavel Durov, many invested in the project through various funds, overpaying for the digital asset.
“There were dozens of venture capital funds that resold coupons with some X. Gram prices at pre-sale were increased in about five times.”
Since TON documentation is governed by English law, territorial claims must be filed with UK courts.
Machikhin thinks, most of the investors are reflecting now and there are no real lawsuits yet. He hopes the TON team will succeed to agree with each of them.
Recall, on Tuesday, May 12, Pavel Durov officially confirmed the closure of the Telegram Open Network project. He did this to resolve the conflict with the SEC.