The crypto hedge fund Three Arrows Capital Ltd., otherwise known as 3AC, has filed for bankruptcy according to recent court filings.
Report: Embattled Crypto Hedge Fund Three Arrows Capital Files for Chapter 15 Bankruptcy
The troubled crypto hedge fund Three Arrows Capital Ltd., otherwise known as 3AC, has filed for bankruptcy according to recent court filings. The court papers show 3AC is aiming for an ancillary Chapter 15 proceeding so liquidators and creditors cannot seize the firm’s U.S. assets. 3AC Files for Bankruptcy — ‘Tremors’ From the Crypto Market Fall ‘Continue to Reverberate,’ Says JPMorgan Analyst was reprimanded by the Monetary Authority of Singapore and faced liquidation from a court order stemming from the British Virgin Islands , 3AC has reportedly filed for bankruptcy.that summarized the situation. Hill says that 3AC has filed for a Chapter 15 bankruptcy, which allows proceedings to occur and protect insolvent firms in more than one country.
“Representatives for Three Arrows filed the bankruptcy petition in New York on Friday, court papers show,” Hill explained on Friday. The law firm3AC’s bankruptcy case was filed in the Southern District of New York in Manhattan. 3AC’s main headquarters are located in Singapore but the co-founder Su Zhu said last April it planned to move to Dubai.
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