Singapore authorities approve 3AC investigation on behalf of liquidators: report
Liquidator Teneo has so far scooped up only a tiny chunk of Singapore-based Three Arrows Capital, while the co-founder Zhu reportedly attempted to sell property there.
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The Singapore High Court on Monday approved a motion to recognize the winding-up order against Three Arrows Capital (3AC) issued by a court in the British Virgin Islands, Bloomberg reported on Wednesday, citing unnamed sources. The Singapore court's decision, issued privately, gives the petitioner the legal option to seek access to 3AC's financial records kept in Singapore, where 3AC is based.
Teneo, the company designated to liquidate 3AC's assets, filed its petition with the court on July 9, claiming that the crypto hedge fund may have information at its Singapore headquarters about its bank accounts, properties, its digital assets and its stakes in other companies. . Zhu reportedly tried to sell his $35 million "bungalow" in Singapore in June.
3AC co-founder Zhu Su responded to accusations the company failed to cooperate with liquidators in a July 12 tweet saying the company had provided liquidators with a spreadsheet containing details on company assets.
Unfortunately, our good faith in cooperating with the Liquidators has been undermined. I hope they acted in good faith with StarkWare token warrants. pic.twitter.com/CF73xI8r6n
— Zhu Su (@zhusu) July 12, 2022Zhu and associate Kyle Davies reportedly went into hiding after the company was ordered liquidated. They later
Liquidator Teneo has so far scooped up only a tiny chunk of Singapore-based Three Arrows Capital, while the co-founder Zhu reportedly attempted to sell property there.
New
The Singapore High Court on Monday approved a motion to recognize the winding-up order against Three Arrows Capital (3AC) issued by a court in the British Virgin Islands, Bloomberg reported on Wednesday, citing unnamed sources. The Singapore court's decision, issued privately, gives the petitioner the legal option to seek access to 3AC's financial records kept in Singapore, where 3AC is based.
Teneo, the company designated to liquidate 3AC's assets, filed its petition with the court on July 9, claiming that the crypto hedge fund may have information at its Singapore headquarters about its bank accounts, properties, its digital assets and its stakes in other companies. . Zhu reportedly tried to sell his $35 million "bungalow" in Singapore in June.
3AC co-founder Zhu Su responded to accusations the company failed to cooperate with liquidators in a July 12 tweet saying the company had provided liquidators with a spreadsheet containing details on company assets.
Unfortunately, our good faith in cooperating with the Liquidators has been undermined. I hope they acted in good faith with StarkWare token warrants. pic.twitter.com/CF73xI8r6n
— Zhu Su (@zhusu) July 12, 2022Zhu and associate Kyle Davies reportedly went into hiding after the company was ordered liquidated. They later
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