QBT CEO Explains Sipiem Recovery Action, Next Steps

Why It Matters

The recovery restores cash flow and demonstrates QBT’s ability to enforce claims, reassuring investors and shaping future asset‑seizure strategies in the sector.

Key Takeaways

• QBT secured €132,000 from Mediapolis bankruptcy settlement recently.
• Court‑supervised liquidation will auction defendant’s real‑estate assets in Italy.
• Proceeds will be distributed to creditors via court‑appointed committee.
• QBT pursuing asset seizures against seven individuals and two insurers.
• CEO promises updates as liquidation process progresses over next 60 days.

Summary

Quantum Blockchain Technologies (QBT) CEO Francesco Gardin outlined the company’s latest recovery effort involving the Sipiem case, describing a court‑supervised liquidation under Italian law that targets assets of a key defendant.

The firm announced a €132,000 payment—10% of the proceeds—from the Mediapolis bankruptcy settlement, expected within 60 days. All assets of the defendant will be auctioned by the court, with proceeds funneled to a creditor committee.

Gardin emphasized QBT’s “very good position” and warned against revealing strategy that could aid defendants. He noted that seven individuals and two insurers face similar seizure requests, underscoring a broader enforcement campaign.

The liquidation could bolster QBT’s balance sheet, reduce exposure, and signal to investors that the company is actively recouping losses, while also setting a precedent for aggressive asset recovery in Italy’s blockchain sector.

Original Description

Quantum Blockchain Technologies PLC (AIM:QBT, FRA:BYA1) CEO Francesco Gardin talked with Proactive's Stephen Gunnion about the latest developments in the company’s legal recovery efforts and ongoing proceedings involving multiple defendants.

Gardin opened with a positive update regarding Mediapolis, explaining that after a lengthy bankruptcy process, the company has now reached a settlement. He confirmed that QBT is set to receive 10% of the proceeds, amounting to €132,000, with payment expected within the next 60 days.

The discussion then turned to the concept of court-supervised liquidation under Italian law. Gardin described this as a process similar to private bankruptcy, where a court oversees the disposal of a defendant’s assets, with proceeds distributed to creditors. He clarified that this specific case relates to one of several defendants involved, stating that there are “seven individuals and two insurance companies” connected to the broader legal actions.

Gardin emphasised that while one defendant has entered this process, the company continues to pursue asset recovery from others. He noted: “Given the position of exposure that the individual has with us, I mean we are in a very good position.”

The CEO also confirmed that real estate assets tied to the case will be auctioned under court supervision, and that QBT is actively filing requests to seize and sell assets across multiple cases.

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