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3AC founders

COURT FILING SHOWS 3AC FOUNDERS  ARE NOWHERE TO BE FOUND

According to a court filing, the current whereabouts of 3AC founders Kyle Davies and Su Zhu is unknown. The development complicates the company’s already tense situation.

According to reports, the founders of the now-bankrupt Three Arrows Capital fled Singapore after the company declared bankruptcy. 3AC was headquartered in the country, and the current location of founders Kyle Davies and Su Zhu is unknown, according to a filing. The filing was made in a New York court.

3AC was under pressure from multiple creditors at the time, and the company’s financial situation was well documented. It declared bankruptcy in the British Virgin Islands. The fact that the founders’ current locations are unknown adds heat to a case that is already boiling.The creditors’ lawyers also stated that 3AC’s Singapore office has been closed. They also claimed that the two founders were not cooperating with the investigation and even turned off audio and video in a Zoom call.

3AC once managed over $3 billion in assets, a figure that has plummeted abruptly since the market crash. There have also been reports that Zhu has sold his mansion in Singapore for $35 million. The money is thought to have been sent to Dubai.

The lack of cooperation may exacerbate the situation for 3AC. Creditors are desperate for some form of restitution, but the lack of cooperation is not encouraging. As a result, they are attempting to seize 3AC’s assets, which appear to be departing — a development that would rightly irritate investors.

NEXT: BANK OF SPAIN GRANTS BINANCE A VASP LICENSE

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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