A court in the British Virgin Islands has issued a global freezing order of assets to 3AC co-founders Su Zhu and Kyle Davies.
The bankruptcy saga of Singapore-based cryptocurrency hedge fund Three Arrows Capital (3AC) continues to unfold, with a court freezing more than a billion dollars of the founders’ assets.
A court in the British Virgin Islands has banned 3AC co-founders Su Zhu and Kyle Davies from transferring or selling assets worth up to $1.14 billion, according to the firm’s liquidator Teneo, Bloomberg reported on Dec. 21.
The restriction has reportedly also impacted assets owned by Davies’ wife Kelly Chen. Teneo said it estimated that 3AC creditors are owed roughly $3.3 billion in the aftermath of the hedge fund’s collapse in 2022.
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Source: https://cointelegraph.com/news/3ac-founders-1-billion-frozen-court