Kim Dotcom-Backed Crypto Startup Bitcache Liquidated in New Zealand

Bitcache, a crypto startup backed by Kim Dotcom, has been liquidated, reportedly implicit unpaid ineligible fees. Phil Creagh, an Auckland lawyer who acted arsenic Bitcache’s manager until Sept. 2020, is reported to person applied for the startup’s liquidation connected May 24.

Bitcache’s Unpaid Legal Fees

A New Zealand-based crypto startup antecedently promoted by salient crypto advocator and entrepreneur Kim Dotcom, has been reportedly liquidated implicit unpaid ineligible fees. According to a report by Newsroom, owners of the startup known arsenic Bitcache person not contested the determination to liquidate.

The liquidation of the startup, which Kim Dotcom lauded arsenic a level that would revolutionize the mode online contented creators get paid, came much than six years aft it was launched. Phil Creagh, an Auckland lawyer who acted arsenic Bitcache’s manager until Sept. 2020, is reported to person applied for the startup’s liquidation connected May 24.

Commenting connected the determination to liquidate Bitcache earlier it achieved immoderate of its objectives, Creagh said:

It’s beauteous straightforward, determination are fees owed and not paid. The institution has not taken immoderate steps truthful acold to debar being placed successful liquidation. We’ll enactment it successful liquidation and spot what, if anything, tin beryllium recovered.

The lawyer added that his steadfast Anderson Creagh Lai stopped representing the Kim Dotcom-backed startup immoderate clip ago.

According to the Newsroom report, Bitcache initially deed a large obstacle successful aboriginal 2017 erstwhile the platform’s planned motorboat was interrupted by what Dotcom referred to arsenic a “hiccup.” Since then, attempts to motorboat the level person each failed. The study added that Bitcache, which reportedly past filed a instrumentality to the Companies Office successful 2021, is present apt to beryllium removed from the Companies Register.

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