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Layer1 co-founder takes former business partner to court

Layer1 co-founder takes former business partner to court

Jakov Dolic, co-founder of the U.S.-based Bitcoin (BTC) mining firm Layer1, has filed a lawsuit in opposition to his former enterprise accomplice, Alexander Liegl.

In response to courtroom paperwork filed on October 30, Dolic claimed that Liegl had finally failed to boost funds for the corporate. Consequently, Dolic stated that he needed to pay $16.24 million out of pocket to buy an influence plant for the mining agency. He additionally claimed to have spent an extra $3.5 million increasing the plant.

Dolic felt brief modified for his funding, noting that Layer1 took full authorized possession of the belongings in query. When Dolic later confronted Liegl for shifting Layer1’s funds with out authorization, Liegl allegedly pressured him out of the agency.

With the lawsuit, Dolic hopes to “vindicate his rights to the properties that he purchased immediately from the vendor.” The courtroom paperwork posit that, though Layer1 technically holds the title, the facility plant and its enlargement “rightfully and equitably belong to Dolic.”

This isn’t the primary time that Dolic has been concerned in a authorized case throughout the crypto business. On September 30, 2019, Digital Capital, a London-based funds firm, sued Genesis Mining — one other firm that Dolic co-founded.

The swimsuit alleged that Genesis Mining didn’t pay for the event and upkeep of its bank card software program. The corporate’s unpaid invoices amounted to roughly $3.1 million. In March, Genesis Mining Iceland argued in a courtroom listening to that Digital Capital didn’t ship software program with capabilities past “peripheral performance.”