The U.S. Securities and Alternate Fee has objected to Terraform Labs hiring Dentons as particular counsel in its Chapter 11 proceedings, calling the $166 million retainer with the agency an try and keep away from paying a judgment in an enforcement motion.
Terraform filed an application to retain Dentons as particular counsel on Feb. 13, asking the court docket to approve the agency’s involvement in resolving litigation. Presently, that features an SEC motion towards Terraform and co-founder Kwon Do Hyeong within the Southern District of New York, one other case towards the corporate in a Singaporean court docket, and numerous different ongoing issues involving Terraform and its staff. That utility says Dentons’ place as a world regulation agency and its historical past working with Terraform justifies the retainer.
