X-Spot International Restricted, an organization owned by Huobi International alternate (now HTX) co-founder Leon Li, has received an injunction in opposition to Huobi International for the latter to stop its use of the Chinese language-equivalent “Huobi” trademark in Hong Kong.
In accordance with a current resolution with the Hong Kong Excessive Courtroom, the HTX alternate will probably be barred from utilizing the trademark title Huobi (火幣) and the Chinese language enterprise title “火必,” which is “confusingly related” to the English trademark in Hong Kong, pending a ultimate trial on the matter. Presiding decide Mimmie Chan J wrote:
“At this stage, I’m unable to see any controversial defence to the Plaintiff’s declare of trademark infringement, and as Counsel for the Plaintiff submitted, there is no such thing as a want to contemplate the adequacy of damages or the stability of comfort for the grant of the Injunction sought.”
Courtroom paperwork reveal that the Huobi trademark was registered in 2019 in Hong Kong. In September 2022, Huobi International was bought by co-founders Leon Li and Du Jun to About Capital Administration, an entity linked to Chinese language blockchain character Justin Solar.
Nevertheless, in response to courtroom filings, the Huobi trademark was assigned, or rights absolutely transferred, to Leon’s X-Spot International Restricted, earlier than the September 2022 acquisition, which is “not disputed” by both celebration. In July 2023, X-Spot International sued Huobi International in Hong Kong for trademark infringement. On the time, Huobi International said that “it holds trademark rights in lots of authorized jurisdictions world wide and is due to this fact entitled to make use of them freely.”
Cointelegraph beforehand reported that in Could 2023, Justin Solar printed a collection of allegations in opposition to Wei Li, Leon Li’s brother. Within the tweet, Solar accused Wei Li of receiving tens of millions of Huobi Tokens via “irregular means” at zero value and of “constantly promoting off these HT tokens and cashing out.” To which Lin Li replied: “I hope Huobi can present proof. Whether it is confirmed that it’s zero-cost HT was obtained via unlawful means, I’ll personally pay 10 occasions the HT [amount] to Huobi firm.”
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