Three Arrows Capital Bankruptcy Filing Claims Location of Co-founders is Currently Unknown

2 years ago

Three Arrows Capital Bankruptcy Filing Claims Location of Co-founders is Currently Unknown 2

Summary:

Three Arrows Capital’s bankruptcy filing states that the determination of some Su Zhu and Kyle Davies is presently unknown, and the brace mightiness person near Singapore.
The papers besides states that Three Arrows Capital managed $3 cardinal successful integer assets arsenic of April 2022.
The bankruptcy filing besides requests a enactment connected progressive efforts by creditors to prehend the hedge fund’s assets.

The whereabouts of the co-founders of embattled crypto hedge money Three Arrows Capital are presently unknown. According to a bankruptcy filing made to the United States Bankruptcy Court of the Southern District of New York, co-founders Su Zhu and Kyle Davies cannot beryllium located. It states:

The Foreign representatives recognize and judge that portion the Debtor has had definite operations successful Singapore, Mr. Davies and Mr. Zhu’s existent determination remains unknown. They are rumored to person near Singapore.

Su Zhu Had Earlier Been Rumored to Be Selling His Singapore Mansion.

Three Arrows Capital co-founders’ locations not being known travel amidst rumors that Su Zhu was reportedly looking to merchantability his $35 cardinal Singapore mansion and person the proceeds sent to a slope successful Dubai.

Three Arrows Capital Managed Over $3 Billion successful Assets arsenic of April 2022.

The bankruptcy filing besides provides antecedently unavailable fiscal accusation astir the operations of Three Arrows Capital. It states that the hedge money ‘had implicit $3 cardinal of assets nether absorption arsenic of April 2022.’

Bankruptcy Filing Requests a Stay connected Planned Seizure of Three Arrows Capital Assets.

In addition, the bankruptcy filing by representatives of Three Arrows Capital requests a enactment connected efforts by creditors to prehend its assets pursuing a liquidation order from the British Virgin Islands. It states:

On June 27, 2022, the Debtor commenced a liquidation proceeding before the BVI Court, and that court has appointed the Foreign Representatives as associated liquidators of the Debtor.

By filing the Petition to commence this section 15 lawsuit (the “Chapter15 Case”), the Foreign Representatives question to enactment progressive efforts by idiosyncratic creditors to prehend assets and to sphere the presumption quo and spend the Foreign Representatives an opportunity stabilize the Debtor’s estate, sphere the Debtor’s assets, and behaviour a implicit probe of the Debtor, claims against its estate, and its assets, including causes of action.2.

[Feature representation courtesy of Unsplash.com.]

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