Liquidators are reportedly after more than $1 billion from the founders of recently bankrupt crypto hedge fund Three Arrows Capital (3AC). Sources knowledgeable about the expropriation of the co-founders Su Zhu and Kyle Davies emphasize that the liquidators are trying to decipher near-$1.3 billion in damages caused before the shutdown of this firm. As of press tme, yet contacting the trustees of the co-founders stays unreplied. The ordeal of 3AC bankruptcy doesn’t come to an end with this point; with liquidators castigating the initiators of financial resolution with allegations of tremendous pressure in insolvency and ruinous losses after the collapse of Terra (LUNA) circumstance.
In July 2021, trials linked with the collapse of 3AC popped up all over again and it was clarified how Zhu refutable to liquidators in a tweet. This made way for adding up the Teneo Company as liquidators in an arbitration done by Courts in British Virgin Islands promptly confronted thereinafter. The detrimental effect apparently looms heavy with creditors awaiting together around $3.3 billion in entirety; $1.3 billion being the amount that contracted on Zhu and Davies. This month, a recent expose reports that the liquidators had obtained order from the New York
Bankruptcy Judge fining $10,000 per day to Davies for ignoring a sworn statement of curial figures of 3Assets.