Legal threats fly in the wake of StrongRoom AI's collapse
EVP on Monday was granted a Federal Court freezing order over StrongRoom AI assets as one of the company's other shareholders threatens its own legal action.
Legal threats are flying in all directions in the days following StrongRoom AI's fall into voluntary administration, as the collapsed medtech startup's shareholders seek to protect their interests.
EVP, the Sydney venture capital firm that led StrongRoom AI's $17 million investment announced earlier this month, on Monday lodged an urgent order with the Federal Court to freeze $10.4 million in assets held by the startup, its three co-founders, early investor Peter Bruce-Clark and several others.
Justice Roger Derrington granted the freeze order, which also applies to administrators and receivers appointed last Friday, with a hearing set for Thursday.
Hours later Tyson & Blake, one of StrongRoom AI's earliest investors, sent a letter to media outlets, including Capital Brief, affirming its support of StrongRoom AI and threatening legal action against EVP.
