Chancery Orders Stymied Blockchain Loan JV Dissolved

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Law360 (August 16, 2021, 1:08 PM EDT) — A once-promising three way partnership fashioned to shake up the secondary marketplace for syndicated loans utilizing blockchain know-how should be dissolved, Delaware’s Chancery Court docket has dominated.

In a 129-page choice launched Friday, Vice Chancellor J. Travis Laster additionally discovered that Symbiont.io Inc. is due “within the neighborhood of $70 million” from its late 2016 cope with Ipreo BLTS LLC to type Synaps Loans LLC, primarily based on post-deal actions by Ipreo that undermined the three way partnership’s enterprise earlier than it obtained off the bottom.

The ruling, which adopted a five-day trial, discovered that Ipreo’s acquisition by IHS Markit Ltd., which dominated the enterprise that joint…

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