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Liquidators of Three Arrows Capital (3AC) have asked a U.S. court to grant permission to issue subpoenas to troubled cryptocurrency hedge fund founders through alternative means.
To date, the whereabouts of Three Arrow Capital founders Su Zhu and Kyle Davies remain unknown, with some accusing them of being on the run.
In a court motion filed in the U.S. Bankruptcy Court for the Southern District of New York on Oct. 14, the advisory firm Teneo denied the two standard methods of contacting them because “the whereabouts of the founders remain unknown.” claimed to have failed.
It also said a request to Advocatus Law LLP, the “Singapore attorney representing the founders,” refused to accept the subpoena on behalf of the pair, stating that the founders “still have not offered candid cooperation.” No, he added. Since the proceedings began, I have had direct access to two short discussions.
As a result, the liquidator asked the court to use “alternative means” to serve the subpoena. It is understood that this includes contacting the duo via their Twitter account and email address.
In filing this new motion, the liquidator says it seeks “authority to serve subpoenas for the preparation of documents and testimony relating to founders, investment managers, and third parties.”
Meanwhile, on October 18th report U.S. regulators have launched an investigation into possible legal violations by Singapore-based hedge funds, Bloomberg claims.
Bloomberg claims the Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) are now investigating whether 3AC misled investors and failed to register with the proper authorities. increase.
Zhu and Davies have kept a low profile following 3AC’s bankruptcy since June.
3AC submitted Chapter 15 bankruptcy proceedings were filed in a New York court on July 1. However, the whereabouts of Zhu and Davies have not been disclosed.
Zhu briefly resurfaced on Twitter in July, accusing him of “luring” liquidators for information to use in court, and Davies retweeted the post, but the duo have since fallen silent again. is protecting
3AC, which at one point managed billions of assets, was bearish after a widespread sale of digital assets, fueled in part by the collapse of the Terra blockchain and poor business decisions on their part. It just became another crypto company to go bankrupt in the market.
