.3arrowscap's liquidators are asking Singapore's High Court to take steps that will allow Singapore to preserve the company's assets. thesamreynolds reports.
The Times reported that BVI-based Teneo has hired Singapore-based WongPartnership LLP to petition the High Court for provisional relief that would allow Teneo to administer Three Arrows’ assets in the city-state and subpoena co-founders Su Zhu and Kyle Davies.
If Teneo’s lawyers are successful, Teneo would be able to secure Three Arrows’ assets in Singapore for the hedge fund’s creditors, lawyers who spoke to The Times said. One route that lawyers could take is to examine what fault the founders had in the fall of Three Arrows. Should the liquidators be able to prove that the collapse of Three Arrows was due to the mismanagement or misconduct of its co-founders, there might be a pathway to pursue seizing their assets for the benefit of creditors, lawyers said.worth close to S$50 million , CoinDesk reported, and has a number of properties under both his and his wife’s name.and will likely be included in the lawyers’ application., and Three Arrows will have a number of defenses available to them.
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