Do Kwon Asked to Delay SEC Terraform Trial Now Judge Asks for Replies Incl on Severance

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, Jan 12 – The SEC's case against  Terraform Labs is moving toward a January 2024 trial. That is, unless summary judgment is granted - arguments were held on November 30.

 On November 30 US District Court for the Southern District of New York Judge Jed S. Rakoff held summary judgment motion arguments. Inner City Press was there and live tweeted, thread

More (Nov 30) on Substack here

On December 28 Judge Rakoff issued a 71 page order including that

The Montenegrin authorities did not so oblige, and Kwon thus did not submit a declaration. Kwon now argues that granting summary judgment for the SEC in the absence of such a declaration violates his Fifth Amendment right to procedural due process. That argument wins credit for color, but that is all." Full order on Patreon here

On January 11, Do Kwon's counsel wrote in to say he wants to attend but "is not likely to be extradited until February or March at earliest." He asks for a delay to mid-March or an instruction to the jury why he is not present - full letter on Patreon here

On January 12, Judge Rakoff held a telephone conference of which there was no advance public notice or access, then docketed: "Minute Entry for proceedings held before Judge Jed S. Rakoff: Telephone Conference held on 1/12/2024, without transcription or recording. Counsel for all parties was present. Defendant Terraform Labs may submit a letter by midnight tonight stating its position with respect to Do Kwons letter brief of yesterday (ECF No. 161) and, if Terraform chooses, the potential issue of severance of the trial between Terraform and Do Kwon. The SECs response to both defendants letters is due by Monday, January 15, at noon. Counsel for defendant Do Kwon must send a letter to the Court by 6pm on Monday, January 15, stating whether they represent that, if the Court grants an adjournment of the trial until mid-March, they will seek no further adjournments for any reason whatsoever."

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