Report: Singapore Court Allows Three Arrows Liquidators Access To Important Financial Records

According to Bloomberg, the liquidators of the ailing Singaporean crypto hedge fund Three Arrows Capital (3AC) have been granted access to crucial data by a local court, gaining further knowledge about the company's assets.

The plea by consultancy firm Teneo to have the liquidation decision for Three Arrows recognized by the Singapore High Court was approved. Teneo was chosen by a British Virgin Islands court to act as the cryptocurrency hedge fund's liquidator in June. According to reports, Three Arrows owes its creditors unsecured claims totaling more than USD 2.8 billion.

According to those with direct knowledge of the proceedings, this stage will give Teneo the ability to ask for any pertinent information, including financial filings, bank accounts, cryptocurrency holdings, shares, and real estate, among others.

Su Zhu and Kyle Davies, who co-founded Three Arrows, asserted they had been receiving death threats since the fund's demise, forcing them to maintain a low profile. At the same time, they identified the following three factors as the primary contributors to 3AC's collapse:

• Their involvement with the defunct algorithmic stablecoin TerraUSD and their proximity to Do Kwon, the founder of Terra
• as well as the price collapse of bitcoin (BTC)
• And trading in the Grayscale Bitcoin Trust (GBTC).

Despite recent efforts by the two founders to remain anonymous, Zhu was discovered to be attempting to sell a mansion he had purchased in Singapore last year for roughly SGD 48.8 million (USD 35m). The local daily Business Times published last December about his purchase of the 31,862 square foot property.