Three Arrows Capital: $1.14 Billion of Founders' Assets Frozen
According to Three Arrows Capital ’s liquidator, Teneo, a British Virgin Islands court has frozen $1.14 billion worth of assets belonging to the founders. According to the court order, co-founders Su Zhu and Kyle Davies and Davies’ wife, Kelly Chen, cannot transfer or sell the assets. Teneo stated, “ The worldwide freezing order has been sought in connection with claims that are being pursued by the liquidators that allege, amongst other things, that the founders should be held responsible for causing 3AC’s position to deteriorate by an amount that is equivalent to the value of the freezing orders sought. “ Three Arrows Capital was one of the largest crypto hedge funds in the world. The firm imploded in 2022 after the collapse of Terra Luna. Will Three Arrows Capital Reimburse creditors? Source: BitRss.com The liquidator, Teneo, highlighted that the firm owes almost $3.3 billion to creditors. Teneo was appointed as a liquidator by a British Virgin Islands ...