B.C Government authority obliged to return huge amount to Hobbs.
VANCOUVER, BC, June 2, 2022 /CNW/ - After a 3-year long hard-fought legal battle, the Supreme Court of British Columbia approved a settlement on May 20, 2022 involving digital assets innovator Kevin Hobbs. The settlement terms approved by the court ordered Mr. Hobbs to regain access to certain assets that were frozen in 2019 by court orders obtained by the Director of Civil Forfeiture (DCF).
Pursuant to the order of the court, made with consent of the DCF, Hobbs and his business partner regained funds totaling more than $1,300,000.00 as well as two vehicles that were seized pursuant to a preservation order made in 2019.
More importantly, the entire claim against Mr. Hobbs personally was dismissed without costs and with prejudice to any further proceeding by the DCF against Hobbs arising from the subject matter of the claim. The order also clarified and removed the majority of allegations made in the disputed claim and did not represent a finding of any liability against Mr. Hobbs in relation to any of the subject matter of the action, and then the entire action was dismissed.
Kevin Hobbs is a Canadian thought leader and innovator in digital asset technologies. Throughout his career, he has founded and run multiple companies, employing over 100 people in various capacities, and is a known donor to local charities, such as the Union Gospel Mission in Vancouver which is one of his favorites. He plans on donating a % of his share of the returned assets to this charity and others.
With this action now resolved, Mr. Hobbs intends to vigorously pursue the development of further leading-edge digital asset technologies.
SOURCE Daisy Consulting Group
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