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Dubai court orders TrueUSD dispute defendant to disclose legal funding source
The Oct. 26 committal hearing for a separate application was moved and the defendant has until Sept. 7 to file an affidavit detailing how legal costs were funded.
A Dubai court has given Matthew William Brittain until Sept. 7 to explain where money used for legal and advisory bills ultimately came from in a dispute tied to $456 million connected to TrueUSD reserves, according to CryptoSlate.
In an order dated Sept. 1 within the Dubai International Financial Centre Courts, Brittain must swear and serve an affidavit by 4 p.m. Gulf Standard Time on Sept. 7, including the amounts, payment dates, and bank accounts for payments made to law firms and advisors such as Quinn Emanuel and FTI Consulting.
The court requires Brittain to identify the original sources and ultimate beneficial owners, explain how the accounts were funded, and provide supporting documents. The order also separately asks for an explanation of $1,083,912.49 paid by Aria Bio Industries FZE on Oct. 31, 2025 toward Aria Commodities’ legal costs and any additional legal advice or representation costs incurred since a May 13 remedy application.
If Brittain does not comply, Techteryx may seek sanctions, though any penalty would still require a further Techteryx application. The committal hearing was moved to Oct. 26 for an estimated four days, scheduled to be held in person at the DIFC Courts with remote attendance allowed for Techteryx’s lead counsel, and Justice Michael Black said another adjournment would require extreme circumstances supported by strong evidence.