Dubai Court Sets Deadline for Brittain to Explain TrueUSD Reserve Funds
A Dubai court has set a deadline for Matthew William Brittain to explain where funds used for legal and advisory bills came from, amidst a dispute over $456 million connected to TrueUSD reserves.
The Sept. 1 order adds a near-term disclosure deadline to proceedings in the Dubai International Financial Centre Courts, with Techteryx seeking information on how money was spent by Aria Commodities DMCC.
Brittain must provide an affidavit by Sept. 7, detailing how $456 million transferred from Legacy Trust and First Digital Trust was used for legal costs at Quinn Emanuel, Horizons, Gall, Campbells, FTI Consulting, and other firms.
The court's order also requires Brittain to identify the original sources of these funds, explain how bank accounts were funded, and provide supporting documents.