Founders of the failed crypto hedge fund Three Arrows Capital were served subpoenas on Twitter by the fund’s liquidators, the latest wrinkle in the firm’s unusual bankruptcy case.
Three Arrows Capital founders Kyle Davies and Zhu Su have been on the run since their billion-dollar hedge fund collapsed last year. Liquidators claim the pair have been reluctant to participate in bankruptcy proceedings, leading to the unusual Twitter subpoena.
The complicated Three Arrows Capital bankruptcy proceedings are playing out in the United States, Singapore and the British Virgin Islands. The fund is being liquidated by financial advisory firm Teneo, which asked a Southern District of New York court for the authority to subpoena the founders via Twitter and email last year.
“We remain focused on diligently advancing the liquidation process for Three Arrows Capital Limited in order to maximize asset recoveries on behalf of creditors,” the joint liquidators said in a statement. “The founders have unfortunately resisted cooperating in these efforts, and as such, we have received authority from courts in both the US and Singapore to serve them targeted and comprehensive discovery demands through email and their frequently-used Twitter accounts.”
Davies’ subpoena was granted by a U.S. court, while a dual subpoena was granted by a Singapore court.
The subpoenas order the founders to provide information to the firm’s liquidators later this month. Liquidators are seeking documentation of the firm’s accounts, digital assets and any books, papers or records pertaining to the company. The subpoena also seeks information on Starry Night Capital and curator Vincent Van Dough, among other entities.
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Source: https://www.theblock.co/post/199598/three-arrows-capital-founders-subpoenaed-by-tweet?utm_source=rss&utm_medium=rss