British Virgin Islands court rules on defunct cryptocurrency hedge fund Three Arrows Capital It decided to freeze $1.1 billion worth of assets linked to its founders Su Zhu and Kyle Davies.
British Virgin Islands Court Freezes $1.1 Billion in Assets of Three Arrows Capital Founder
The freezing decision was announced by Teneo, the liquidator of Three Arrows Capital. The court ruling prevents Zhu, Davies and Chen from dealing with their assets globally.
In a statement, Teneo explained that the freezing order was related to allegations made by the liquidators.
Teneo emphasized that a local freezing order was also issued by a Singapore court the previous Wednesday. This decision comes after Su Zhu was arrested at Singapore’s Changi airport in September while trying to leave the country.
Three Arrows Capital filed for bankruptcy in July 2022 amid the turmoil caused by the collapse of the Terra ecosystem in cryptocurrency markets. It was reported that the company owed at least $3.5 billion to creditors at the time of application.
*This is not investment advice.
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