Zhu Su and Kyle Davies, the two fugitive founders of bankrupt cryptocurrency hedge fund Three Arrows Capital (3AC), were tweeted today, Jan. 5, to release documents and information relevant to the case after a botched order through other channels could be delivered.
As Cointelegraph reported, lawyers involved in the cryptocurrency hedge fund’s bankruptcy case have repeatedly attempted to contact the two founders of 3AC in recent months, but to no avail. Both parties had indeed previously agreed on a communication procedure, which however was not complied with.
@KyleLDavies jpg copies of the subpoena are attached to this tweet as a service. A redacted copy of the summons has been served by email and can be provided upon request. pic.twitter.com/XAYzQ4Oveo
— 3ACLiquidation (@3ACLiq) January 5, 2023
In the move, liquidators seek access to account information, seed phrases, and private keys for 3AC’s digital and fiat assets; details of securities and shares not registered; and any accounts held on centralized or decentralized exchanges, together with any other tangible or intangible assets. At its peak, the hedge fund had a net worth of $10 billion and filed for Chapter 15 bankruptcy on July 1.
For this reason, Su and Davies have now been officially asked via the social network Twitter to “exhibit all available documents, whether they are in their possession or in the possession of their agents, representatives, employees, investigators or anyone else” who is connected with the two founders of 3AC.
The required documents are all types of information important in the bankruptcy proceeding, including seed phrases and private keys for the hedge fund’s crypto assets, existing securities and account data on centralized or decentralized cryptocurrency exchanges, and lists of any other physical or immaterial. At its peak, the cryptocurrency hedge fund was worth $10 billion before filing for bankruptcy on July 1, 2022.
Already in December, bankruptcy lawyers wanted to make the corresponding request via Twitter, since the exact whereabouts of Su and Davies are not known and make the process more difficult.
According to bankruptcy lawyers, the two founders of 3AC may be located in Indonesia and the United Arab Emirates (UAE), where it is difficult to enforce court orders from abroad. For this reason, it is still questionable whether and how any sentence can be legally enforced.
