BlockFi Can't Move Crypto Loan Suit Out Of Calif., Panel Says

By Sarah Jarvis (June 15, 2022, 9:33 PM EDT) -- A California appellate panel has reversed a lower court's order enforcing a Delaware forum selection clause in a borrower's suit against BlockFi Lending LLC, finding the borrower's unwaivable right to a jury trial could be violated if the case went forward in Delaware.

In an unpublished opinion filed Tuesday, the panel reversed an August 2020 opinion from the Los Angeles Superior Court, which stayed George J. Gerro's suit against BlockFi and its loan payment processor Scratch Services LLC. Gerro had borrowed more than $2.2 million from BlockFi and pledged his bitcoin as collateral, but sued BlockFi for selling his bitcoin when...

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