In a significant legal decision, a High Court judge has turned down James Howell’s request to recover Bitcoin valued at £600 million. This judgement, delivered by Andrew John Keyser KC, brings an end to Howell’s lengthy dispute with Newport City Council over access to his lost cryptocurrency.
What Happened to James Howell’s Bitcoin?
James Howell, who invested in Bitcoin in its early days, reported that he inadvertently discarded a hard drive containing 7,500 BTC back in 2013. Newport City Council asserted that the hard drive was now their property after being thrown away, as per waste disposal regulations. The court further noted that environmental permits prohibit any excavation of the landfill to retrieve such items.
Will Howell Pursue Further Legal Action?
Judge Keyser KC dismissed Howell’s claims, citing a lack of reasonable grounds for the appeal and emphasizing the low likelihood of success. The council reinforced its stance that legal limitations barred Howell from accessing the landfill, which is home to over 1.4 million tons of rubbish.
Howell lamented the soaring value of the 7,500 BTC, currently valued at around $95,000 each, which has rekindled his desire to reclaim the lost funds. He stated the lost cryptocurrency could significantly alter his life, yet he finds himself trapped by legal restrictions. Howell has hinted at escalating the matter to the UK Supreme Court.
- The court emphasized environmental concerns as a key reason for denying the recovery request.
- Newport City Council maintains that the hard drive belongs to them due to its disposal.
- Howell’s investment has appreciated significantly, intensifying his efforts for recovery.
This ruling effectively ends Howell’s hopes of retrieving a potentially life-changing fortune buried within a landfill, underlining the complexities surrounding digital asset ownership and regulatory frameworks.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
