DIFC Court Orders Sept. 7 Disclosure in $456M TrueUSD Reserve Case
DIFC court requires Matthew William Brittain to detail funding sources for legal costs in $456M TUSD dispute by Sept. 7; freeze on Aria Commodities DMCC stays in place.
A Dubai International Financial Centre court has ordered Matthew William Brittain to disclose by Sept. 7 the original sources and beneficial owners of funds used to pay legal and advisory costs in a dispute over $456 million tied to TrueUSD reserves.
The Sept. 1 order requires Brittain to swear an affidavit listing amounts, dates, bank accounts and supporting documents for payments made to Quinn Emanuel, Horizons, Gall, Campbells and FTI Consulting, as well as a separate $1.08 million payment from Aria Bio Industries FZE on Oct. 31, 2025.
Freeze and hearing status
The court maintains a proprietary injunction and worldwide freeze over the $456 million transferred from Legacy Trust and First Digital Trust to Aria Commodities DMCC, which the DIFC identified as part of the reserves backing TUSD.
The committal hearing has been adjourned for a third time to Oct. 26 for four days. No determination has been made on ultimate ownership or the fraud allegations raised in the separate Hong Kong proceedings.
Next steps and limits
Techteryx, the claimant, may apply for sanctions if the affidavit is not filed, but any penalty would require separate court consideration. The DIFC proceedings remain distinct from the underlying Hong Kong litigation, where ownership questions are unresolved at the interim stage.