Three Arrows Liquidators Gain Access to Funds, Crypto, and NFT Asset Records
Liquidators overseeing the unwinding of the failed cryptocurrency hedge fund Three Arrows Capital (3AC) have achieved significant progress in their efforts to recover assets. Recent court decisions in Singapore and the United States empower them to access crucial financial records and potentially pursue the fund's founders, Su Zhu and Kyle Davies.
A key court decision in Singapore has been secured by Three Arrows Capital Ltd.’s liquidators, granting them greater insight into the collapsed crypto hedge fund’s remaining assets. This is a major step towards recovering funds for creditors.
Furthermore, a United States court has given liquidators permission to subpoena the founders of crypto investment firm Three Arrows Capital (3AC), including Su Zhu and Kyle Davies. This allows the liquidators to compel Zhu and Davies to provide information regarding 3AC's assets and financial dealings.
July 12 (Reuters) reports that liquidators for crypto hedge fund Three Arrows Capital (3AC) obtained U.S. court permission on Tuesday to issue subpoenas and lay claim to the bankrupt Singapore-based firm's assets. This U.S. court order is instrumental in tracing and recovering assets held outside of Singapore.
Adding to these developments, a petition to recognize the liquidation order against Three Arrows Capital (3AC) issued by a British Virgin Islands court has been approved by the Singapore High Court. This recognition strengthens the liquidators' authority and facilitates the recovery process across multiple jurisdictions.
The founders of Three Arrows Capital might find a surprise the next time they open Twitter: subpoenas from court-appointed liquidators are on their way. These legal instruments will compel them to cooperate with the asset recovery process and provide a full accounting of 3AC's holdings, including crypto and NFT assets.
These recent court victories represent significant milestones for the liquidators as they work to recoup as much value as possible for 3AC's creditors. The ability to access funds, crypto, and NFT asset records is crucial for understanding the full extent of 3AC's financial activities and maximizing the potential recovery.