Three Arrows Capital Co-Founder Su Zhu Worries That Liquidator’s Misrepresentation Will Lead Him And Other Company Directors To Jail For Contempt Of Court, Bloomberg News report August 26th.
The court-appointed liquidator of 3AC Teneo said the co-founders of the troubled company were uncooperative and that Zhu and his partner Kyle Davies were “very selective” about the bankrupt hedge fund’s assets. provided a fragmented disclosure.”
Zhu vehemently denied the allegations on Twitter, but further defended his position by filing an affidavit himself in Bangkok, Thailand, on August 19.
Bloomberg News reported that, citing copies of notarized documents, Zhu alleged that the liquidator misled the Singapore High Court about the structure of 3AC and the role he and Davies played in the system. rice field.
Zhu listed several entities and claimed to be a director of Three Arrows Capital Pte Ltd (TACPL), registered in Singapore in 2013, until the license expires on 31 July 2021. .
He also listed two feeder funds, Three Arrows Fund LP (TAFLP), registered in Delaware, USA, and Three Arrows Fund Ltd (TAFL), located in the British Virgin Islands.
TACPL will no longer be the investment manager of the master and feeder funds on September 1, 2021, Zhu said. At that point he became the investment manager ThreeAC Ltd, another entity registered in the British Virgin Islands.
Mr Zhu continued that it would be nearly impossible for TACPL to provide all the information the liquidator requested because the entity he identifies as a director is no longer an investment manager.
According to the report, the entity is concerned “about the potentially drastic consequences of the liquidator’s exercise of wide-ranging powers.”
Meanwhile, Teneo has secured court approval granting access to 3AC’s assets in Singapore.
