A British Virgin Islands court has frozen up to $1.1 billion worth of assets owned by Su Zhu and Kyle Davies, the founders of defunct cryptocurrency hedge fund Three Arrows Capital, and Davis’ wife.
The company’s liquidator, Teneo, said in a statement shared with The Block today that a BVI court issued an order on December 18 banning the two founders and Davies’ wife, Kelly Chen, from trading their assets globally.
“The worldwide freezing order was sought in relation to the argument pursued by the liquidators that, among other things, the founders should be held responsible for deteriorating the position of 3AC to a level equivalent to the value of its assets. A freezing order was sought,” Teneo said.
Teneo noted that a Singapore court also approved a domestic freezing order on Wednesday.
The BVI court order states that Zhu be arrested At Singapore Changi Airport last September while trying to travel overseas. main face a question It responded in a Singapore court last week when 3AC’s liquidator Teneo sought to recover $3.5 billion for creditors.
three arrows file for bankruptcy In July 2022, the cryptocurrency market was thrown into chaos due to the collapse of the Terra ecosystem. company Owes at least $3.5 billion to creditorsAccording to documents filed at the time.
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