Terra founder Do Kwon Appeals Against Extradition Decision of Montenegrin Court

In a recent development, Kwon Do-hyung, the founder of Terraform Labs (TFL), has lodged an appeal against the extradition ruling by the High Court of Podgorica in Montenegro.

Will Court Hear Do Kwon’s Appeal Against Extradition?

The Montenegrin Court of Appeal confirmed on December 6 that Kwon Do-hyung has contested the decision, stating, “I do not accept the court’s decision to extradite me, so I do not submit to the court’s decision.”

With this appeal, the Montenegrin Court of Appeals is mandated to reassess the extradition decision. Consequently, the Montenegrin Ministry of Justice faces challenges in reaching a conclusive decision on Kwon Do-hyung’s repatriation by the looming deadline of December 15.

This legal development follows the Montenegrin court’s initial decision on June 15 to detain Kwon Do-hyung for extradition, setting a six-month detention period until December 15.

In recent developments, Marija Rakovic, the press officer of the Podgorica High Court, clarified on December 1 that individuals involved in extradition cases, such as Kwon Do-hyung, possess the right to challenge court decisions, as per information sourced by local news publication Digital Asset.

Rakovic further elaborated, stating, “Once the appeal is submitted, the Montenegro Court of Appeals will decide (on extradition) again.” While there is a prevailing local belief that the chances of overturning the repatriation decision are minimal, the legal process continues to unfold.

Will Terra Founder Go to the US or South Korea?

Approximately two weeks following the extradition decision, Kwon Do-hyung has filed an appeal. On November 24, Montenegro’s High Court, in a press release, announced the approval of Kwon Do-hyung’s extradition, requested by both South Korea and the United States.

Despite this, the court clarified that the final decision on the repatriation country, whether Korea or the United States, rests with the Minister of Justice. During the extradition trial, Kwon Do-hyung expressed a preference for extradition to Korea, as mentioned in the court’s press release. On the other hand, the U.S. SEC is also seeking the extradition of Do Kwon.

Subsequently, concerns have arisen regarding Kwon Do-hyung’s intention to comply with the extradition decision, prompting inquiries from various parties, including the Montenegrin court, the Ministry of Justice, and Kwon Do-hyung’s legal representative.

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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