The liquidators of Three Arrows Capital (TAC) reported that the founders of the bankrupt cryptocurrency hedge fund deliberately do not communicate and hide their whereabouts.
The bankruptcy of Three Arrows Capital is being overseen by Teneo crisis managers Russell Crumpler and Christopher Farmer. They allege that TAC co-founders Kyle Davies and Su Zhu are thwarting attempts to get in touch with them knowing about the subpoena.
According to documents filed with the New York bankruptcy court, TAC liquidators called the founders of the fund for court hearings as early as January 5. Davis and Zhu had until January 26 to respond to the subpoena, but the deadline passed, and the liquidators demanded that the court set a new deadline of March 16.
“Without a doubt, Kyle Davis and Su Zhu are aware of the subpoena – they were noted in 41 replies and 64 retweets. Once again, they decided to ignore their obligations to Three Arrows Capital,” the liquidators complain.
The founders of TAC have been in hiding since their multibillion-dollar hedge fund collapsed last June, leading to a lengthy bankruptcy filing. Despite the lawsuits, Davis and Zhu remain active on social media. In January, the creators of TAC made headlines when they announced plans to raise $25 million to launch a new cryptocurrency service.
In October, American regulators took up arms against Three Arrows Capital: the Commodity Futures Trading Commission (CFTC) and the US Securities Commission (SEC). They suspect the fund of violating securities laws and misleading investors.
Source: Bits
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