Tether’s General Counsel: iFinex v. NYAG Case Continues with a Court Meeting in 30 Days

The January 15th deadline passed, and, as somewhat expected, the parties in the NYAG v iFinex case are yet to conclude the production and submission of the requested documentation.

• As reported by CryptoPotato earlier, January 15th was a much-anticipated date regarding the case between the New York Attorney General’s office and iFinex – the parent company of both Tether and Bitfinex.
• On this date, iFinex had to produce a bulk of documents requested by the office of the NYAG. The latter alleges, in a lawsuit, that Bitfinex lost $850 million and then used funds from its affiliated stablecoin issuer (Tether) to cover the shortfall.
• Nevertheless, tweeting on the most recent developments was the General Counsel, Stuart Hoegner, for both Bitfinex and Tether, who said that they’ve filed a letter to the court, providing updates on the status of the document production and the next steps.
• In the said letter, Hoegner explains that “the respondents have largely completed the document production and have produced a substantial volume material to the Office of the Attorney General in the past few weeks,” adding that “there remain supplemental agreed-upon items that need to be completed.”
• The counsel also explained that the parties “will need a few more weeks” to get this done.
• Concluding the document, Hoegner said that they “plan to next contact the Court in approximately 30 days to either provide a final status upgrade or to schedule a conference.”
• In another tweet, the attorney has also said that he believes their discussions with the NYAG are “productive and going well.”