Judge Mark Turner ruled that Chinese law should determine whether they are entitled to the assets. He noted that English law or a mixed legal approach from the two countries could not be applied because the harm was caused in China. The dispute arose from a fraudulent investment scheme run by Zhimin Qian in 2014–2017. British authorities later confiscated the assets during an investigation into money laundering.
The victims tried to invoke English law. It could have allowed them to claim direct ownership rights to the BTC instead of compensation as creditors. However, the British court’s decision does not determine who ultimately owns the confiscated assets.