Les fondateurs de Three Arrows Capital (3AC) refusent de coopérer et sont pour le moment introuvables

The founders of Three Arrows Capital (3AC) refuse to cooperate and are currently nowhere to be found

Difficulties and uncertainties are mounting for the investment fund Three Arrows Capital (3AC). While the company has recently been placed in liquidation and can expect several criminal complaints, its 2 founders cannot be found. According to the lawyers of various creditors, the latter have so far shown no sign of cooperation.

Three Arrows Capital, a business that goes wrong

Things seem to get complicated for Three Arrows Capital (3AC), the Singaporean hedge fund recently liquidated by a court in the British Virgin Islands, whose collapse has dragged down other companies sometimes dramatically.

The society Travel Digitalfor example, found itself in significant financial difficulty following a loan of 15,250 Bitcoins (BTC) and 350 million USDC to 3AC, whose debts have not been repaid on time. Of course, considering the sums of this measure, Voyager does not intend to stop there and has announced that its legal teams will go all the way to recover their due.

This is just one example, and other companies have been impacted, such as BlockFi or Genesis Trading. Thus, 3AC has recently taken steps to protect itself under chapter 15 relating to companies reporting bankruptcy before a dedicated court in New York.

However, things could prove more complicated to manage than that for Three Arrows Capital. And for good reason, in parallel with the probable complaints against him, the company was recently reprimanded by the Monetary Authority of Singapore (MAS) for providing false information and for exceeding their authorized management threshold. Finally, 3AC would have “omitted” to declare the change of shares of its 2 founders in the company.

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The founders of 3AC remain untraceable

It would seem that the founders of Three Arrows Capital, Kyle Davis and Su Zhu, be worried. And for good reason : they are nowhere to be found.

Indeed, according to lawyers for various creditors, 3AC offices in Singapore were found totally abandoned. Moreover, they also said that the two founders of the investment fund have so far only showed no sign of cooperation.

The various lawyers mobilized are particularly worried because most of the funds held by 3AC are in the form of cryptocurrenciesnon-fungible tokens (NFTs) or cash, making them very easily transferable. Some NFTs have already been sent to other wallets for no apparent reason.

Moreover, during a videoconference between the said lawyers and the 2 foundersthe latter would have only made an act of presence, taking care to cut their audio and video channels by letting their representatives speak.

At this stage, a hearing is expected for Tuesday, July 12 in the morning in New York. Plaintiffs’ attorneys reportedly asked Kyle Davis and Su Zhu to list the assets held by the companyboth for digital assets and bank accounts or securities.

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Source: Fortune

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