Do Kwon might have to go to court soon because the court has decided on a deadline before the trial. This is happening while there’s a request for him to be sent to the US for trial.
The court in the United States is taking action in the case involving Terraform Labs and its co-founder Do Kwon. They’ve set deadlines and other steps before the trial starts. This is happening while Do Kwon is being sent from Montenegro to the US for trial.
Court Sets Pretrial Deadline and Trial Adjournment
In the latest development regarding the lawsuit between the U.S. Securities and Exchange Commission (SEC) and Terraform Labs, Judge Jed S. Rakoff has signed an order approving amended stimulation and proposed orders outlining pretrial deadlines.
After extensive discussions, both parties have agreed to adjourn the trial until March 25. This decision allows the SEC and Terra lawyers to complete oppositions to motions, depositions, and counter-designations by March 11, ensuring adequate preparation time for the pretrial phase.
The court has instructed the SEC and Terra to submit a proposed consent order before March 18. Additionally, in accordance with Individual Rule 7, the parties must present proposed jury charges to the court by the same date.
All parties are mandated to fulfill these requirements at least 48 hours before the pretrial deadline.
This order coincides with a Montenegro court’s approval to extradite Do Kwon, co-founder of Terra, to the United States. Notably, the extradition request to South Korea has been overturned.
Do Kwon’s Potential Attendance at Court Proceedings
While the timing of Do Kwon’s arrival in the United States remains uncertain, it’s likely that he will participate in court proceedings on the scheduled trial date. Do Kwon was apprehended in Montenegro in March 2023 and subsequently sentenced to four months in prison. Extradition proceedings continued during his custody.
Former Terra CFO Han Chang-joon was extradited to South Korea. However, Do Kwon successfully appealed in the Court of Appeals of Montenegro to be extradited to South Korea, citing various ambiguities with the ruling.
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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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