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Timoria LLC v. Anis

Delaware Court of Chancery
346 A.3d 1166, 2025 WL 2827657 (2025)

Written by Nathan Benedict, JD

Facts

Duelbits, an online casino incorporated in Curaçao, believed that two former employees—one a resident of Saudi Arabia (the Saudi) and the other a resident of Algeria (the Algerian) (collectively, the defendants)—had embezzled $4 million worth of Ether, a cryptocurrency. Duelbits assigned its rights to Timoria, LLC (plaintiff), a Delaware corporation. Timoria sued in Delaware state court, seeking an injunction freezing the Ether and requiring the defendants to cooperate and provide information. After the Saudi moved to dismiss for lack of personal jurisdiction, Timoria voluntarily dismissed him but continued to seek binding injunctive relief. Timoria argued that the court could assert in rem jurisdiction over the Ether and use that jurisdiction to impose obligations on its holders and claimants.

Rule of Law

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Issue

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Holding and Reasoning (Laster, V.C.)

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