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The shift from trade secrets litigation to bankruptcy proceedings highlights the complexities of asset recovery and potential market impacts. The post Citadel Securities drops US lawsuit against Portofino Technologies, pivots to £6M UK judgment appeared first on Crypto Briefing.
The post Citadel Portofino Litigation Ends as Enforcement Challenges Mount appeared on BitcoinEthereumNews.com. After nearly three years of cross-border litigation, Citadel has made a calculated retreat from its U.S. trade secrets fight against Portofino Technologies — not because it lost, but because winning again looked increasingly pointless. The Citadel-Portofino litigation has shifted decisively from a battle over legal liability to a harder, messier problem: actually collecting money from someone who, by most indications, doesn’t have enough to pay. Key takeaways Citadel dropped its U.S. trade secrets lawsuit against Portofino Technologies, with each side bearing its own legal costs. Citadel won a nearly 6 million-pound London arbitration award against Portofino co-founder Leo Lancia in 2025, covering breach of contract, unlawful means conspiracy, and deceit. Leo Lancia owes 5.98 million pounds plus interest and costs; Citadel estimates it holds only about 21,886 pounds in securi
