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Gibraltar court ends 2-month freeze of 542M PLAY tokens amid legal dispute

Coin Telegraph LogoCoin Telegraph15h ago

Gibraltar court ends 2-month freeze of 542M PLAY tokens amid legal dispute - Coin Telegraph

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Source: CoinGeckoJudge Restano said the evidence filed by Ready Games for the freeze was “far from impressive, and raises more questions than it answers.”He added he did “not consider that this is a case where the order should be re-granted in any event,” and cited Ready Games’ failure to disclose that it was in administrative dissolution at the time of filing for the token freeze, which he called “a significant omission.”Ready Games’ Bennahum told Cointelegraph that it has filed to lodge an appeal alongside “an urgent application with the Gibraltar Court of Appeal asking them to either stay the discharge of the original injunction or grant a new injunction” so the tokens could again be frozen pending the appeal's outcome.

He added that his company disagreed with the court’s decision to lift the token freeze, saying that the Gibraltar-based firm was in an “alarming state.”Ready Maker is just a “token launch vehicle” — Ready Games founderBennahum reiterated an earlier claim that the US-based Ready Games created Ready Maker in Gibraltar with the US company’s intellectual property and funding “specifically to serve as our token launch vehicle.”“We maintain that Ms.

In an April 17 judgment, Gibraltar Supreme Court Judge John Restano undid his earlier February freeze of the tokens, finding it could have hurt the value of the tokens and that the evidence filed was insufficient to continue the freeze.“Whilst there may be many reasons for the drop in value of the tokens, the evidence before the court suggests that these proceedings are a factor in that regard,” he wrote.

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Article Details

Author / Journalist: Cointelegraph by Jesse Coghlan

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-22 @ 05:25:50 (15 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 559 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28130161

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Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 27 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 7 hours ago

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Publisher ID: #11

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