This case was last updated from U.S. Bankruptcy Courts on 03/16/2023 at 11:12:05 (UTC).

BlockFi Inc. et al v. Greene et al

Case Summary

On March 13, 2023, Blockfi Inc., Blockfi Trading, LLC, Blockfi Lending LLC, Blockfi Wallet LLC, Blockfi Ventures LLC, Blockfi International Ltd., Blockfi Investment Products LLC, Blockfi Services, Inc., and Blockfi Lending II LLC (collectively, “Plaintiffs”), represented by Michael D. Sirota and Warren A. Usatine of Cole Schotz P.C.; Joshua A. Sussberg and Christine A. Okike of Kirkland & Ellis LLP; and Richard S. Kanowitz, Charles M. Jones II, and Aimee M. Furness of Haynes And Boone, LLP, filed a bankruptcy lawsuit against Trey Greene and Antonie Elas (collectively, “Defendants”), seeking injunctive and declaratory relief staying the prosecution of the Lawsuit. This case was filed in the U.S. Bankruptcy Court for the District of New Jersey, with Judge Michael B. Kaplan presiding.

In the complaint, the plaintiffs stated, “Certain of the Debtors’ officers, directors, and former employees have been named as defendants in two putative class-action lawsuits – one filed in New Jersey and the other in Massachusetts – related to BlockFi Interest Accounts (‘BIAs’).”

Plaintiffs alleged that “On November 28, 2022 (the ‘Petition Date’), BlockFi and its debtor affiliates as debtors and debtors-in-possession each filed voluntary petitions for relief under chapter 11 of the Bankruptcy Code thereby commencing the Chapter 11 Cases.”

The plaintiffs then alleged that “BlockFi Inc. was founded in 2017 by Zac Prince and Flori Marquez to provide credit services to markets with limited access to simple financial products. Certain of the Debtors’ directors, officers, and former employees have been named as defendants in putative class-actions in New Jersey and Massachusetts.”

Plaintiffs further alleged, “The Debtors and their directors and officers share a common Executive and Private Company Liability Insurance Policy.”

Plaintiffs also alleged, “First, the Debtors will be exposed to a significant risk of res judicata, collateral estoppel, or evidentiary prejudice if the Lawsuits are allowed to continue.”

The plaintiffs also alleged, “The Debtors seek an order staying the prosecution of the Lawsuits until the effective date of a plan in these Chapter 11 Cases, pursuant to §§ 362(a)(1) or 362(a)(3) of the Bankruptcy Code. Continued prosecution of the Lawsuits will expose the Debtors to a risk of res judicata, collateral estoppel, or evidentiary prejudice.”

The plaintiffs then alleged, “If the Lawsuits are allowed to continue, the Debtors’ prospects for efficiently and effectively monetizing assets and/or confirming their plan will be impaired, thwarting the Congressional purpose of providing the Debtors with a breathing spell from litigation pressures during their efforts to confirm a plan.”

Additionally, the plaintiffs alleged, “If the Adversary Defendants are not enjoined from prosecuting the Lawsuits, the Debtors will likely suffer irreparable harm and their ongoing efforts will be threatened.”

Plaintiffs presented two claims for relief, including for alleged declaratory judgment and injunctive relief. 

In the prayer for relief, the plaintiffs requested a judgment for injunctive and declaratory relief. 

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Case Details Parties Documents Dockets


Case Details

  • Case Number:


  • Filing Date:


  • Case Status:

    Pending - Other Pending

  • Case Type:

    Bankruptcy - Chapter 11 Adversary Proceeding

Judge Details


Michael B. Kaplan


Party Details


BlockFi Inc.

BlockFi Trading, LLC

BlockFi Lending LLC

BlockFi Wallet LLC

BlockFi Ventures LLC

BlockFi International Ltd.

BlockFi Investment Products LLC

BlockFi Services, Inc.

BlockFi Lending II LLC


Trey Greene

Antonie Elas

Attorney/Law Firm Details

Plaintiff Attorney

Michael D. Sirota


Court Documents


Main Document

1 #2

Summons and Notice of Pretrial Conference in an Adversary Proceeding

2 #1

Main Document


Certification of Aimee M. Furness in Support of Application for Pro Hac Vice Ad

2 #3

Proposed Order

3 #1

Main Document

3 #2

Pre Trial Instructions


Docket Entries

  • 03/14/2023
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  • Docket(#3) Summons Issued to BlockFi Inc.,BlockFi Trading, LLC,BlockFi Lending LLC,BlockFi Wallet LLC,BlockFi Ventures LLC,BlockFi International Ltd.,BlockFi Investment Products LLC,BlockFi Services, Inc.,BlockFi Lending II LLC for Service on Antonie Elas Answer due on 4/13/2023; Trey Greene Answer due on 4/13/2023 Pre-Trial hearing to be held on 5/18/2023 at 10:00 AM at MBK - Courtroom 8, Trenton. (Attachments: #1 Pre Trial Instructions) (mjb) (Entered: 03/14/2023)

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  • 03/13/2023
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  • Docket(#2) Application for Attorney Aimee M. Furness to Appear Pro Hac Vice Filed by Michael D. Sirota on behalf of BlockFi Inc.. Objection deadline is 3/20/2023. (Attachments: #1 Certification of Aimee M. Furness in Support of Application for Pro Hac Vice Admission #2 Proposed Order) (Sirota, Michael) (Entered: 03/13/2023)

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  • 03/13/2023
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  • DocketReceipt of filing fee for Complaint(# 23-01071-MBK) [cmp,cmp] ( 350.00) Filing Fee. Receipt number A45058989, fee amount $ 350.00. (re: Doc#1) (U.S. Treasury) (Entered: 03/13/2023)

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  • 03/13/2023
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  • Docket(#1) Adversary case 23-01071. Complaint by BlockFi Inc., BlockFi Trading, LLC, BlockFi Lending LLC, BlockFi Wallet LLC, BlockFi Ventures LLC, BlockFi International Ltd., BlockFi Investment Products LLC, BlockFi Services, Inc., BlockFi Lending II LLC against Trey Greene ; Antonie Elas. Fee Amount $ 350.. (72 (Injunctive relief - other)) (Attachments: #1 Summons and Notice of Pretrial Conference in an Adversary Proceeding) (Sirota, Michael) (Entered: 03/13/2023)

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