Three Arrows Capital (3AC) seeks protection from US creditors under Chapter 15 of the US Bankruptcy Code. This allows foreign debtors to protect US assets.
Singapore-based 3AC is one of the most well-known investors hit by a sharp sell-out in the crypto market, and Reuters reported Wednesday that it was liquidated, citing someone familiar with the matter. did.
According to court documents, a representative of 3AC filed a petition with the US Bankruptcy Court in Southern New York on Friday.
On Thursday, Singapore’s financial regulators accused the fund of embarrassing the fund for crossing asset thresholds and providing false information.
Non-US companies use Chapter 15 to block creditors who file proceedings or bind assets in the United States.
July 2, 2022
Three Arrows Cryptographic Hedge Fund File for Bankruptcy
https://www.thehindubusinessline.com/money-and-banking/cryptocurrency/three-arrows-crypto-hedge-fund-files-for-bankruptcy/article65592062.ece Three Arrows Cryptographic Hedge Fund File for Bankruptcy