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3AC seeks U.S. court permission to claim its assets
... founders and about two dozen banks andcryptocurrencies exchanges that may have information about its assets and transfers. At an emergency hearing Tuesday, Adam Goldberg , a lawyer for the liquidators, said that the whereabouts of company founders Zhu Su and Kyle Livingstone Davies remain unknown. Without the founders' cooperation, the liquidators have been unable to get a complete view of 3 AC's assets and their location, Goldberg said. The digital assets creates a real risk that the founders or ...
Updated: 07/12/2022
V Voyager Digital says it’s working quickly to open user accounts
... reconciliation and fraud prevention process. It added that the USD cash equivalent of customers funds is held in a For Benefit of Customers FBO account with Metropolitan Commercial Bank . Voyager Digital disclosed that the whereabouts of 3 AC founders Zhu Su and Kyle Livingstone Davies are unknown, as well as a $650 million debt owed by Three Arrows Capital 3 AC A court filing. It is also being revealed that the couple is not cooperating with authorities regarding the company's bankruptcy process. It ...
Updated: 07/12/2022
3AC liquidators seek answers from court
... AC failed to repay a loan of $650 million in cryptocurrencies, and Blockchain.com , which loaned $270 million to 3 AC. 3 AC's liquidators Russell Crumpler and Christopher Farmer said in a Friday court filing that they can't locate 3 AC's founders, Zhu Su and Kyle Livingstone Davies . Crumpler and Farmer were appointed by a British Virgin Islands court to represent the company, wind down its operations and repay creditors. They filed a parallel bankruptcy case in New York in order to protect 3 AC's ...
Updated: 07/12/2022
3AC liquidators haven't met founders in any meaningful way
... New York. The liquidators of Three Arrows Capital have not been able to communicate with the founders in any meaningful way, according to a filing in the United States Bankruptcy Court of the Southern District of New York. The location of founders Zhu Su and Kyle Livingstone Davies is currently unknown as they hide from the spotlight. The document stated that the liquidators are concerned that 3 AC may dispose of its assets outside of the insolvency proceedings. The risk is heightened due to the nature ...
Updated: 07/11/2022
Three Arrows Capital liquidated in British Virgin Islands
... finally come to an end to the winter for the Singapore-based hedge fund Three Arrows Capital , which was ordered to liquidate in the British Virgin Islands by a court, according to Sky News. The firm, founded in 2012 by former Deutsche Bank trader Su Zhu and investor Kyle Davies , has taken bullish bets on cryptocurrencies but is now facing a crisis due to a wider selloff. The collapse of the algorithmic stable coin TerraUSD has seriously impacted Three Arrow Capital's ability to meet its target ...
Updated: 07/05/2022
Three Arrows Capital files for Chapter 15 bankruptcy
... bankruptcy filings stop creditors from seizing a company's assets in the US. A British Virgin Islands court ordered the liquidation of Three Arrows Capital earlier this week. As recently as March, the fund, founded by former Credit Suisse traders Zhu Su and Kyle Davies , managed an estimated $10 billion of assets, according to Nansen. Three Arrows is represented in the US bankruptcy case, according to the law firm Latham Watkins. Three Arrows Capital Ltd Arrows Capital Ltd and Russell Crumpler, 22 ...
Updated: 07/01/2022
Cryptocurrency firm Three Arrows Capital liquidated in the Caribbean
... The court ordered Three Arrows Capital to be liquidated in the British Virgin Islands after a court ordered it to come into effect in the winter of criptocurrency, according to Sky News . The firm was founded in 2012 by former Deutsche Bank trader Su Zhu and investor Kyle Davies and has taken bullish bets on the topic of crypto, but is now facing a crisis due to a wider selloff. Three Arrow Capital and its ability to meet its target goals were impacted by the recent collapse of the algorithmic stable ...
Updated: 07/01/2022
Three Arrows Fund liquidated
... platforms, such as Aave and dYdX , as well as StarkWare , according to its website. It is not immediately clear what or how many of these holdings will be subject to a sale. The court order brought down one of the most famous hedge funds founded by Zhu Su and Kyle Davies, former Credit Suisse traders, at the kitchen table of their apartment in 2012. Three Arrows assets under management were estimated to be around $10 billion in March, according to Nansen, a company that had a bull run in the criptocurrency ...
Updated: 06/29/2022
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