3AC liquidators seek time, HQ access as Genesis, Algorand ties unravel
In a Singapore court filing, 3AC liquidators seek to slow an expected wave of lawsuits while uncovering the company's complex financial dealings company.< /p>
New
The liquidators of bankrupt crypto hedge fund Three Arrows Capital (3AC) have filed a petition in the Singapore High Court to stay claims against 3AC and gain access to the company's Singapore headquarters. The liquidators said in the 1,157-page document that a court ruling is necessary in light of the number of legal proceedings that could arise in the near future and the "virtual radio silence of the company's management/directors". .
According to the July 9 request, the Singapore office may contain cold wallets or information on how to access 3AC trading accounts, which liquidators want to access before any of them are removed or destroyed. The app lists previous unsuccessful efforts to obtain information from company directors Su Zhu and Kyle Davies and their representatives.
Details of 3AC's financial difficulties continue to emerge. According to The Street, 3AC's largest creditor, trader Genesis Asia Pacific, a subsidiary of Digital Currency Group, has loaned 3AC $2.36 billion.
Crypto lender Genesis has given $2.36 billion to Three Arrows Capital
— The Street (@TheStreet) July 18, 2022This is a much larger sum than previously announced. We already knew that
In a Singapore court filing, 3AC liquidators seek to slow an expected wave of lawsuits while uncovering the company's complex financial dealings company.< /p>
New
The liquidators of bankrupt crypto hedge fund Three Arrows Capital (3AC) have filed a petition in the Singapore High Court to stay claims against 3AC and gain access to the company's Singapore headquarters. The liquidators said in the 1,157-page document that a court ruling is necessary in light of the number of legal proceedings that could arise in the near future and the "virtual radio silence of the company's management/directors". .
According to the July 9 request, the Singapore office may contain cold wallets or information on how to access 3AC trading accounts, which liquidators want to access before any of them are removed or destroyed. The app lists previous unsuccessful efforts to obtain information from company directors Su Zhu and Kyle Davies and their representatives.
Details of 3AC's financial difficulties continue to emerge. According to The Street, 3AC's largest creditor, trader Genesis Asia Pacific, a subsidiary of Digital Currency Group, has loaned 3AC $2.36 billion.
Crypto lender Genesis has given $2.36 billion to Three Arrows Capital
— The Street (@TheStreet) July 18, 2022This is a much larger sum than previously announced. We already knew that
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