DigitalX, the ASX-listed fund manager specialising in cryptocurrencies, is heading to court against its former chief executive

DigitalX Limited, a tech and investment firm, faced a setback as the Federal Court of Australia did not grant its application for summary judgment against former director Mr. Alex Karis.

However, the Court ordered Karis to provide $150,000 security for the company’s costs, with his claim against DigitalX stayed until payment. The company is now set to focus on claiming possession of a Bitcoin wallet linked to the recovered Mt Gox Exchange funds.

Given the Orders, DigitalX intends to now promptly progress our claim for possession of the wallet connected to the Bitcoin recovered from the MtGoxExchange, Said a company spokesman.

"To this end, pleadings are already closed,and the next stage in the process is discovery. Timing for completion of this process is presently unknown."