Business
Update on Sipiem Funds Recovery
Quantum Blockchain Technologies Plc has provided an update on its Sipiem litigation recovery actions, reporting €700,000 received in June 2024 from co-liable parties, €34,500 recovered in 2025 from defendants' bank accounts, and €9,000 from legal expense refunds. The company also reached a €37,000 settlement with an insurance company for legal expenses. Further recovery efforts include the upcoming judicial auction of a real estate asset on May 6, 2026, with a starting price of €287,157, and ongoing actions concerning other confiscated assets and artworks. Disclaimer*
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n\n \n \n \n \n \n \n \n \n 19 March 2026\n \n \n \n \n \n \n Quantum Blockchain Technologies Plc\n \n \n \n (“QBT” or “the Company”)\n \n \n \n \n \n \n \n \n \n Sipiem Recovery Actions Update\n \n \n \n \n \n \n \n \n Quantum Blockchain Technologies plc (AIM: QBT), the AIM-listed investment company, provides an update on the recovery actions relating to the Sipiem litigation. Pursuant to a judgment issued by the Venice, Italy Court of Appeal on 10 June 2024, the Company via its wholly owned subsidiary Clear Leisure 2017 (“CL2017”) was awarded damages in excess of €6 million plus interest and additional compensation for inflationary loss over time (the “Awarded Amount”). \n \n \n \n \n \n Since then, the Company has been seeking to recover the Awarded Amount, \n \n which to date has resulted in:\n \n \n \n \n \n \n €700,000 received in June 2024 from members of the Sipiem statutory audit committee as co-liable parties;\n \n \n €34,500 recovered during 2025 from a series of small collections from the main Sipiem defendants’ bank accounts;\n \n \n €9,000 recently collected from\n \n defendants as a refund of legal expenses.\n \n \n \n \n \n \n The main defendant remains fully liable for the Awarded Amount, reduced by the amounts already collected as set forth above.\n \n \n \n \n \n Further recovery actions are taking place regarding the two real estate assets already confiscated pursuant to a confiscation request filed by CL2017 (as announced on 17 December 2025). A third property asset which has been identified by CL2017 and for which a confiscation request has been filed, is \n \n being opposed by the defendants. This matter is currently awaiting a court ruling.\n \n \n \n \n \n The Company now wishes to inform shareholders that the Court of Biella, Italy has ordered the judicial auction of one of the two real estate assets on 6 May 2026. The property will be offered at auction with a starting price of €287,157 (which price reflects a 25% reduction from the surveyor assessment, as required by the Italian Civil Code).\n \n \n \n \n \n The Company will duly notify shareholders of the results of the auction sale and of the auction date for the other real estate asset as well as the outcome of the eventual disposition of the main defendant’s previously...