British Columbia Supreme Court hearing on non-recourse equipment financing
Company: IREN
The claim, verbatim
Hearing held June 13-15, 2023 in British Columbia Supreme Court on non-recourse SPV financing; lender sought declarations; company vigorously defended; court decision pending
Source (primary)
IREN 424B3 filed 2023-06-20 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “A hearing was held on June 13-15, 2023 in The Supreme Court of British Columbia where the lender sought, among other things, declarations to the effect that any difference between revenue generated by the Non-Recourse SPVs through provision of hashpower services to the Company and Bitcoin mined by the Company is collateral securing such facilities, as well as substantive consolidation of Group entities, which were vigorously defended by the Company and the Non-Recourse SPVs. A decision by the Court is pending.”
How we checked this
Checked on September 21, 2026. The cited source supports every part of this claim.
All assertions are established verbatim in the document.
Confirmed in the source:
- A hearing was held June 13-15, 2023 in the Supreme Court of British Columbia on the Non-Recourse SPV financing
- The lender sought declarations regarding collateral and substantive consolidation
- The Company and Non-Recourse SPVs vigorously defended
- A decision by the Court is pending
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1878848/000114036123030396/brhc20054634_424b3.htm) in full (13,070 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms IREN 424B3 filed 2023-06-20
Quote: “A hearing was held on June 13-15, 2023 in The Supreme Court of British Columbia where the lender sought, among other things, declarations to the effect that any difference between revenue generated by the Non-Recourse SPVs through provision of hashpower services to the Company and Bitcoin mined by the Company is collateral securing such facilities, as well as substantive consolidation of Group entities, which were vigorously defended by the Company and the Non-Recourse SPVs. A decision by the Court is pending.”