Three months after receiving permission from Singapore’s High Court to start looking into the company’s assets there, liquidators for Three Arrows Capital have seized $35.6 million from the country’s bank accounts belonging to the defunct cryptocurrency hedge fund.
Since Three Arrows collapsed in July, leaving a $3.5 billion debt in its wake, Teneo, the New York-based liquidation firm authorized by a British Virgin Islands court, has seized the most money to date.
According to a presentation used in a court hearing on Friday, liquidators have also recovered $2.8 million from forced redemptions of investments, as well as an unspecified number of crypto tokens and non-fungible tokens (NFTs).
Kyle Davies and Su Zhu, who founded the hedge fund, haven’t made it any simpler for liquidators to find and protect the remaining Three Arrows assets so that they may be delivered to investors, said Teneo, which claimed both men have been obstructive since the summer.
Liquidators appear to be even more irritated with Su and Davies’ lack of collaboration now that they have resumed tweeting and speaking to the media. Liquidators have reportedly communicated with Su, Davies, and their attorneys extremely infrequently, according to the court presentation.
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