Lender asks London court to liquidate London Block Exchange

The High Court of London will consider a statement on the liquidation of the British cryptocurrency exchange London Block Exchange (LBX), reports CoinDesk .

The petition was filed by the law firm Squire Patton Boggs, which claims to have filed a petition for the liquidation of the LBX because of its debts. The hearing is scheduled for Tuesday, April 30th.

Usually, creditors resort to such measures when they want to achieve debt repayment. According to the head of LBX, Benjamin Dives, the debt does exist, but the amount is not that great – 9,900 pounds sterling (about $ 12,700).

“I didn’t pay attention to the bill before it was too late,” Dives explained, noting that due to the long non-payment of debt in Squire Patton Boggs, they now demand a higher fee from the exchange.

However, LBX does not intend to close. According to the head of the exchange, the platform began to receive calls from concerned people who think that the company is “retiring”, but there is no talk about liquidation in LBX.

At the same time, some community representatives say that LBX can have debts far more serious than several thousand dollars. So, the author of the podcast What Bitcoin Did, Peter McCormack is sure that the exchange has long been insolvent and has owed millions not only to creditors, but also to its own employees.

Recall that in September last year, the London Block Exchange was the first to launch a steakblock, tied to the British pound.

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