Crypto hedge fund Three Arrows files for bankruptcy
Add BT as a preferred source
CRYPTO hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy, a move that protects its US assets while a liquidation is carried out in the British Virgin Islands.
Representatives for Three Arrows filed the bankruptcy petition in New York on Friday, court papers show.
Chapter 15 bankruptcy filings stop creditors from seizing a company’s assets in the US.
A British Virgin Islands court ordered the liquidation of Three Arrows Capital earlier this week.
The fund, founded by former Credit Suisse traders Zhu Su and Kyle Davies, managed an estimated US$10 billion of assets as recently as March, according to blockchain analytics firm Nansen.
The law firm Latham & Watkins is representing Three Arrows in the US bankruptcy. BLOOMBERG
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Buyer for England striker Harry Kane’s former mansion must pay £3.4 million after abandoning deal
Ohmyhome Ltd sells real estate business for US$1 due to poor business and continued losses
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
