Creditors of Three Arrows Are Granted an Urgent Hearing After the Founders Refuse to 'Cooperate'

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Creditors of Three Arrows Are Granted an Urgent Hearing After the Founders Refuse to ‘Cooperate’

Creditors of Three Arrows Are Granted an Urgent Hearing After the Founders Refuse to 'Cooperate'
3AC co-founder Su Zhu speaks at Crypto Bahamas. (Tracy Wang/CoinDesk)
Source: CoinDesk
1657532370 11 Jul / 09:39

Where are Su Zhu and Kyle Davies located? The hedge fund founders have not been forthcoming with the liquidation process thus far, and their present whereabouts are unknown.

In court records filed late Friday night in New York, creditors' attorneys stated that the fund's founders "have not yet begun to engage with the action in any significant way."

The attorneys reported that individuals identifying as "Su Zhu" and "Kyle" were present in an initial Zoom conversation. However, their video and audio were muted, and they refused to react to questions asked directly to them; only their legal representatives responded.

According to court filings, when creditors’ attorneys visited Three Arrows’ Singapore office, they discovered it had been abandoned.

Concerns are growing that Three Arrows’ assets, which consist primarily of cash, cryptocurrencies, and NFTs, may be readily moved.

For unknown reasons, NFTs belonging to the Starry Night NFT fund managed by Three Arrows have already been moved to a different wallet.

Creditors are attempting to freeze the assets of Three Arrows. But first, they ask the court to order the founders of Three Arrows to list the fund’s assets.

In addition, they request that the court summon the business’s founders and require them to produce a list of the company’s assets, including wallets it owns, bank accounts, digital assets in its possession, derivatives contracts, securities, and funds receivable, and all corporate documents.

In New York, a court hearing is set for Tuesday morning.

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