Quantum Blockchain Technologies wins total damage award of 6.1 million in Venice court [Video]

Quantum Blockchain Technologies PLC (AIM:QBT) chairman and CEO Francesco Gardin speaks to Proactive’s Stephen Gunnion about subsidiary Clear Leisure 2017’s legal victory in the Venice Court of Appeal.

Gardin provided an overview of the case involving CL17’s lawsuit against former directors and auditors of CPM.

While the main defendant is liable for €6.2 million, Gardin said other defendants are liable for various amounts, allowing CL17 to collect from multiple sources if necessary. He also discussed the next steps, including negotiations with the defendants and ongoing efforts to recover the awarded amounts.

In addition to the legal update, Gardin highlighted the progress of Quantum Blockchain’s research and development activities.

“Our team of over 20 researchers is making significant strides every day,” he stated. “before we release information about the product, we will really want to be 100% sure that it will perform in an operational situation.”