Legal team for 3AC liquidators blast founders for shifting blame to FTX, media blitz amid bankruptcy By Cointelegraph
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The founders of Three Arrows Capital, or 3AC, the Singapore-based crypto hedge fund with close ties to Labs, have been spending more time engaging on social media and news outlets than dealing with its own liquidation, according to bankruptcy lawyers.
In a Dec. 2 hearing in the United States Bankruptcy Court in the Southern District of New York, lawyers for 3AC’s liquidators cited founders Zhu Su and Kylie Davies for being “active and responsive to comments via Twitter” but “repeatedly fail[ing] to engage” with liquidators to discuss the company’s assets and related issues. According to the legal team, Zhu and Davies have only had “limited discussions” with liquidators in addition to changing jurisdictions often — reportedly traveling to Bali and the United Arab Emirates.
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The founders of Three Arrows Capital, or 3AC, the Singapore-based crypto hedge fund with close ties to Labs, have been spending more time engaging on social media and news outlets than dealing with its own liquidation, according to bankruptcy lawyers.
In a Dec. 2 hearing in the United States Bankruptcy Court in the Southern District of New York, lawyers for 3AC’s liquidators cited founders Zhu Su and Kylie Davies for being “active and responsive to comments via Twitter” but “repeatedly fail[ing] to engage” with liquidators to discuss the company’s assets and related issues. According to the legal team, Zhu and Davies have only had “limited discussions” with liquidators in addition to changing jurisdictions often — reportedly traveling to Bali and the United Arab Emirates.
Continue Reading on Coin Telegraph
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