Metafi Pro Secures Court Ruling to Protect Bitcoin Mining Machines Amid Legal Battle

On Thursday, October 24, 2024, the United States District Court for the Northern District of New York granted Metafi Pro Limited’s request for a preliminary injunction against several defendants involved in a complex logistics and transportation dispute. The court’s decision follows a federal diversity action initiated by Metafi, alleging multiple claims including breach of contract, conversion, and fraudulent misrepresentation.

The case arose after Metafi contracted with NY Trading, Inc. to purchase 4,500 computers designed for Bitcoin mining. Metafi also engaged NY Trading to handle the transportation of these miners from China and Thailand to the United States. However, complications ensued when NY Trading delivered only 4,365 miners to the U.S., of which only 1,902 were sent to Colony Pond Management, LLC in New York. Further issues were reported as only 616 of those miners actually reached Colony Pond, with additional miners reportedly missing.

On October 3, 2024, Metafi filed an emergency motion seeking a temporary restraining order and a preliminary injunction to protect its ownership rights over the miners and prevent Colony Pond from interfering with its recovery efforts. While the court initially denied the request for a temporary restraining order, it subsequently set a briefing schedule for the preliminary injunction.

As the deadlines passed, Metafi successfully served all defendants with the necessary legal documents. Notably, the defendants did not file a proper opposition to Metafi’s motion. Consequently, the court granted the motion for a preliminary injunction on the grounds of being unopposed.

The court’s order prohibits all defendants and any individuals acting in concert with them from transferring, selling, or otherwise disposing of any rights or interests in the miners until the contractual dispute is resolved. Additionally, Colony Pond is specifically enjoined from interfering with Metafi’s efforts to reclaim the 616 miners that are currently in its possession.

Please contact BlockTribune for access to a copy of this filing.