The Supreme Court has dismissed a multimillion-dollar counter-claim brought by businesswoman Christina Macedo and two companies against investors in a cryptocurrency venture.
The dispute centres on Ready Maker Gibraltar, which launched a digital token called $PLAY in December 2024.
US company Ready Makers Inc and associated investors claimed the Gibraltar operation belonged to them because they had funded the original project.
Ms Macedo, a former executive of the American company, maintained she had taken over and developed the venture independently.
The Americans withdrew their original Gibraltar claim in February, but Ms Macedo pursued a counterclaim alleging they had spread false statements and conspired to damage the business.
She alleged the token’s market valuation fell from around 100 million US dollars to 6.2 million dollars, and valued her counterclaim at no less than 50 million dollars.
However, Puisne Judge John Restano ruled that key allegations had not been adequately set out, including which statements were knowingly false and how they caused financial losses.
He struck out the unlawful interference and conspiracy claims, and rejected a separate contractual claim for costs.
The judge did not determine who actually owns the business in this judgment.
