Court gives green light to liquidator to claim 3AC assets
Categories: Crypto News US
Court gives green light to liquidator to claim 3AC assets
US Bankruptcy Judge Martin Glenn on Tuesday granted liquidators the power to summon and claim the US-based assets of bankrupt crypto firm Three Arrows Capital (3AC).
- Liquidators can summon up to two dozen banks and crypto exchanges to obtain information on assets and transfers of bankrupt crypto hedge funds.
- 3AC cofounders Su Zhu and Kyle Davis were also granted permission to be summoned, though the pair did not appear in court on Tuesday and their whereabouts are unknown.
- Adam Goldberg, the liquidator's lawyer, said that it hinders the liquidator's efforts to take a thorough consideration of the situation and poses a risk that Pair can sell digital assets unless the court intervenes directly can transfer.
- 3AC filed for Chapter 15 bankruptcy on July 1, shortly after the alleged liquidation was ordered by a British Virgin Islands court in late June. Voyager Digital Limited.
- It recently filed for Chapter 11 bankruptcy after it disclosed that it had lent 3AC US$670 million in cryptocurrencies, while com recently disclosed its exposure as well.