Ripple faces legal fight in New York

Ripple Labs Inc., the company that manages the Ripple system, has been refused the opportunity to make its own “home” decision in the court chosen by itself on a judicial issue that has gripped the company since last autumn. The judicial affair that sees her protagonist against the R3, her initial partner, weighs around 16 billion dollars. The news is reported by Bloomberg.

Ripple had asked to be able to face the case against the R3 in the San Francisco court, in the state of California where the same company of Brad Garlinghouse is based. But the request was rejected, and it seems that now the lawsuit will pass to the New York court. Ripple’s complaint presented in San Francisco was answered with two controdenuctions by R3: one presented in Delaware and rejected in October 2017, and a second one in New York. Which now seems the only place where the dispute will take place.

The lawsuit, launched in September 2017, derives from the breakdown of the partnership between the two companies. Ripple argued that R3 had started collaborating by introducing himself for with critical misleading information. On the other hand, R3 claims that Ripple has not paid 5 billion XRP promised to it. In the American judicial system, territorial competences can mean very different ways of interpreting court proceedings, and now Ripple argues that moving the trial site to New York could bring “irreparable damage” to Ripple.