A federal bankruptcy judge has approved subpoenas for 3AC founders Su Zhu and Kyle Davies of Three Arrows Capital, a Singapore-based crypto hedge fund that went bankrupt earlier this year.
According to The Block, a US federal bankruptcy judge has approved the issuance of subpoenas against Su Zhu and Kyle Davies, the founders of Three Arrows Capital.
The subpoena requires the duo to provide all financial information of the company, including books, documents, records and documents relating to the debtor’s assets or finances, and to produce process of private keys, keyphrases, and any other means of legal access or control and Digital Assets.
Zhu, Davies and others involved, including Davies’ wife, Kelly Kaili Chen, and chief executive officer Mark James Dubois, have two weeks to provide the requested documents and information.
Three Arrows, based in Singapore, filed for bankruptcy earlier this year and is in Chapter 15 bankruptcy proceedings in the Bankruptcy Court for the Southern District of New York and the British Virgin Islands.
After declaring bankruptcy, the two founders also disappeared and did not disclose the location. However, they recently returned to Twitter at the time of the fall of FTX and blamed Sam Bankman-Fried’s empire as the cause of 3AC’s demise.
As was updated in an earlier Coincu News article, 3AC’s creditors also accused the 2 founders of 3AC of failing to cooperate in the asset liquidation process. This impedes the company’s ability to repay its creditors.’
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu