COBALT represents a private person in the bankruptcy proceedings of CoinLoan OÜ

COBALT law firm is representing a German private person in court proceedings, who submitted an application to the court to declare bankruptcy of a virtual currency provider and lender CoinLoan OÜ. Due to the initiated bankruptcy proceedings, it became public that the company who advertised itself as a successful company is in fact insolvent. Despite many objections presented by CoinLoan OÜ, the court approved the petition, and the bankruptcy of the debtor was declared. This case has received public attention since the company owes hundreds of millions of euros to thousands of customers. Hopefully, the declared bankruptcy will help to recover at least some of the assets and to hold all perpetrators responsible for caused damages.

Our client is represented by Managing Associate Rauno Ligi and Junior Associate Norman Ilumets.