Three Arrows Founders' Whereabouts Are Unknown, Foiling Liquidators

The founders of bankrupt crypto hedge fund Three Arrows Capital haven't been cooperating in the firm's liquidation process and their whereabouts were unknown as of Friday, according to court papers. From a report: Representatives tapped to liquidate Three Arrows by a British Virgin Islands judge had "not yet received any meaningful cooperation" from Kyle Davies and Zhu Su, lawyers said in US bankruptcy court filings. Advisory firm Teneo is attempting to round up and preserve the assets of the hedge fund. Lawyers for Zhu and Davies told Three Arrows' liquidators that the two intend to cooperate. A meeting between the liquidators and attorneys is scheduled for Monday, while a court hearing is set for Tuesday. The liquidators, meanwhile are trying prevent the potential "dissipation" of the fund's assets, Russell Crumpler of Teneo said in a sworn declaration. "Here, that risk is heightened because a substantial portion of the Debtor's assets are comprised of cash and digital assets, such as cryptocurrencies and non-fungible tokens, that are readily transferable," lawyers for the liquidators said in court papers.

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