Crypto Hedge Fund Three Arrows Files For Chapter 15 Bankruptcy
Crypto hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy, a move that protects its US assets while a liquidation is carried out in the British Virgin Islands.
Ankita K.
12:01 2nd Jul, 2022
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Representatives for Three Arrows filed the bankruptcy petition in New York on Friday, court papers show. Chapter 15 bankruptcy filings stop creditors from seizing a company’s assets in the US.
A British Virgin Islands court ordered the liquidation of Three Arrows Capital earlier this week. The fund, founded by former Credit Suisse traders Zhu Su and Kyle Davies, managed an estimated $10 billion of assets as recently as March, according to blockchain analytics firm Nansen.
The law firm Latham & Watkins is representing Three Arrows in the US bankruptcy.
The case is Three Arrows Capital Ltd and Russell Crumpler, 22-10920, U.S. Bankruptcy Court for the Southern District of New York (Manhattan).
This is a developing story and will be updated.
