Quantum Blockchain unit clears court challenge in Sipiem recovery action

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Quantum Blockchain Sipiem court win

Highlights

Quantum Blockchain Technologies announces the Court of Biella dismissed the defendant's appeal, allowing judicial sale of the third Sipiem property to resume.
The court-set auction for the Biella property is scheduled for 21 October 2026 with a minimum offer price of 204,450 euros and independent valuation of 272,600 euros.
CL2017 continues recovery actions on more than 6 million euros in awarded damages, with the Biella ruling enabling enforcement of legal costs and further asset recoveries.

Biella ruling revives property enforcement

According to London Stock Exchange's Regulatory News Service, Quantum Blockchain Technologies says the Court of Biella dismisses in full the defendant's appeal against enforcement proceedings over a third real estate asset in the Sipiem in Liquidazione matter.

The decision confirms the validity of the pignoramento immobiliare started by Clear Leisure 2017 Limited, allowing the judicial sale process to resume under the Order for Sale issued by the Court of Biella on 18 March 2026. The property is independently valued by the court-appointed surveyor at about 272,600 euros, and the court-ordered auction is set for 21 October 2026 with a minimum offer price of 204,450 euros.

The Court also orders the defendants, jointly and severally, to reimburse CL2017 legal costs of 5,800 euros, plus applicable statutory additions. The defendants may appeal the judgment by 29 July 2026, while CL2017 says it has already served notice of the judgment and plans enforcement action if the awarded costs are not paid voluntarily.

Recovery strategy and remaining assets

QBT says the ruling removes a significant procedural challenge and lets CL2017 continue pursuing recovery actions arising from the final judgment of the Venice Court of Appeal. Under that judgment, CL2017 is awarded damages of more than 6 million euros, plus applicable interest compensation for inflationary loss over time and legal costs.

On the other two property assets, which are included in the defendant's court-supervised liquidation procedure referenced in the company's 10 April 2026 announcement, the process is progressing as previously described. The next step is for the liquidator to announce the timetable for the sale process for those two properties.

Chief Executive and Executive Chairman Francesco Gardin says the Biella court decision confirms the validity of the enforcement proceedings over the third property and marks another step in the company's strategy to recover the sums awarded to CL2017.

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