3AC liquidators seek 'alternative means' to subpoena missing founders

Consulting firm Teneo has argued that standard methods for contacting the founders of Three Arrows Capital have failed and is now looking for other ways to subpoena them.< /p> New

Three Arrows (3AC) capital liquidators have asked a US court to grant them permission to subpoena the founders of the troubled crypto hedge fund through "alternative means".

To date, the fate of Three Arrows Capital founders Su Zhu and Kyle Davies remains unknown, with some accusing the duo of being on the run.

In a lawsuit filed with the bankruptcy court for the Southern District of New York in the United States on October 14, consulting firm Teneo claimed that standard methods for contacting the duo had failed because "the location of the founders remains unknown".

He also said the request from Advocatus Law LLP, the "Singapore counsel claiming to represent the founders", refused to accept subpoenas on behalf of the couple, adding that the founders also did not " not yet offered frank cooperation” having “made himself directly available for only two brief discussions” since the beginning of the debates.

As a result, the liquidators had asked the court to use "alternative means" to serve subpoenas, which would include contacting the duo on their Twitter accounts and email addresses.

With the filing of this new motion, the liquidators say they are seeking "authority to serve subpoenas for the production of documents and testimony about the founders, investment managers and third parties."

Meanwhile, an October 18 report from Bloomberg says US regulators are launching an investigation into possible violations of the law by the Singapore-based hedge fund.

Bloomberg...