US Bankruptcy Court Approves Foreign Administrator for Three Arrows Capital's Debt

A U.S. federal bankruptcy court has approved a request by foreign representatives of liquidators of Three Arrows Capital to administer the crypto hedge fund's assets in the U.S. and subpoena its founders and other relevant parties, according to an order issued Tuesday.

The Singapore-based hedge fund filed for Chapter 15 bankruptcy protection in the U.S. on July 1. It had previously been ordered to be liquidated in the British Virgin Islands.Earlier on Tuesday, Three Arrows’s co-founder Su Zhu posted screenshots of an email sent from his legal counsel to legal representatives of its liquidators, alleging they are “baiting” Zhu and co-founder Kyle Davis and ignoring their good-faith attempts to work with them.In legal documents filed late Friday, lawyers for Three Arrows's liquidators said Zhu and Davies were not cooperating with the proceedings and their location is unknown.

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