After spending a long period in hiding, two of the founders of 3AC got a subpoena from the Singapore Court.
The court has subpoenaed founders Zhu Su and Kyle Davies of Three Arrows Capital via Twitter because it is unknown where they are. Three Arrows Capital was a cryptocurrency investment vehicle that failed in the middle of 2022 and contributed to a liquidity crisis in the market.
On the evening of January 5, 2023, court documents ordering the two founders to comply were uploaded on the Twitter account of someone who is purported to be the liquidator of Three Arrows Capital's assets.
@zhusu and @KyleLDavies jpg copies of orders made by the Supreme Court of Singapore against Mr Zhu, Mr Davies and Three Arrows Capital Pte. Ltd. are attached to this tweet by way of service. An unredacted copy of the order was served via email and can be provided upon request. pic.twitter.com/NVFd3pUhi3
— 3ACLiquidation (@3ACLiq) January 5, 2023
In order to service the bankruptcy case of the fund, the Singapore Court specifically demanded that Zhu Su and Kyle Davies submit information on Three Arrows Capital's operations, including books, records, vouchers, etc.
Mr. Davies, a US citizen, was also mandated by the Southern District of New York bankruptcy court to give the liquidator the required information.
@KyleLDavies jpg copies of the subpoena are attached to this tweet by way of service. An unredacted copy of the subpoena was served via email and can be provided upon request. pic.twitter.com/XAYzQ4Oveo
— 3ACLiquidation (@3ACLiq) January 5, 2023
The liquidator has allegedly accused the two founders of Three Arrows Capital of purposefully fleeing and ignoring requests for cooperation to return the fund's assets, and now he is escalating the legal threat by doing this. Mr. Zhu Su is rumored to have relocated to Dubai (UAE) following the failure of this Singapore-based cryptocurrency investment fund, while Mr. Kyle Davies is "hiding" in Bali (Indonesia). With the US, neither nation has an extradition agreement.
Following the failure and bankruptcy of FTX, Su Zhu and Kyle Davies abruptly resumed their Twitter activity after a protracted absence. They frequently claimed that FTX - Alameda was a premeditated "poor move," which caused Three Arrows Capital to suffer. The populace, though, did not accept his accusations.
Su Zhu recently released a notion that blamed FTX - DCG for plotting with it to bring down Three Arrows Capital after it was revealed that DCG - Genesis was also involved in a crisis. This also caused him to suffer a lot of criticism from the community.
