Time

22 Dec 2023

197

1️⃣ Three Arrows Capital Founders Face $1.1 Billion Asset Freeze 🥶

A court in the British Virgin Islands has ordered a global freeze of up to $1.1 billion worth of assets owned by Su Zhu, Kyle Davies and Kelly Chen (the spouse of Kyle Davies), the founders of Three Arrows Capital (3AC), a crypto hedge fund. The order was obtained by Teneo Restructuring, the liquidators of 3AC, who are suing the founders for allegedly causing 3AC’s financial position to worsen by the same amount as the frozen assets.

Teneo stated,

The liquidators are pursuing claims 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.equivalent to the value of the freezing orders sought ok now for all good day


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