Overview
- Justice Michael Black KC on Oct. 17 continued a worldwide freezing and proprietary injunction against Aria Commodities DMCC up to $456 million.
- The court found serious issues to be tried and a credible constructive‑trust claim, citing a real risk that assets could be dissipated.
- Techteryx alleges reserves held via First Digital Trust were redirected in 2021–2022 to Aria‑linked illiquid ventures, prompting breach‑of‑trust and knowing‑receipt claims.
- The Digital Economy Court’s order, described as its first global freeze, stays in place until further instruction as Hong Kong proceedings address ownership and redemption questions, with cross‑border tracing ongoing.
- Justin Sun filled the reserve shortfall and is named in filings as Techteryx’s alleged ultimate beneficial owner, while Aria’s Matthew Brittain disputes that the investments were intended to be highly liquid.