Sometimes there is no one event that heralds the end of a major financial player. Sometimes, however, it only takes a few months for a company to tumble from managing $10 billion in assets to having its finances frozen by a New York bankruptcy court judge. That’s exactly what’s happened to Three Arrows Capital, which was just earlier this year considered a crypto hedge fund darling by investors around the world.
“A key part of this motion is to put the world on notice that it is the liquidators that are controlling the debtor’s assets at this stage,” said Adam Goldberg, an attorney representing Teneo, the global advisory firm tasked with managing Three Arrows’ liquidation.
And where are company Co-Founders Zhu Su and Kyle Davies? That’s exactly the question being asked by the court; according to lawyers representing these business leaders in the bankruptcy proceedings, both individuals’ physical locations are “currently unknown.” According to Zhu, he and his family have faced threats of violence related to the liquidation, and he and his fellow Co-Founder are complying wholeheartedly with Teneo and Three Arrows creditors.