The founders of Three Arrows Capital received a subpoena

The Three Arrows Capital (3AC) bankruptcy case continues to gain momentum. A federal bankruptcy judge issued a subpoena to the founders of Three Arrows Capital, Su Zhu and Kyle Davis. The latter will have to provide the necessary data and contribute to the ongoing investigation.

The lenders who borrowed 3AC's money believe the firm's defunct cryptocurrency hedge fund has additional assets they intend to find and seize. Su Zhu and Kyle Davis are not the only representatives of Three Arrows Capital to receive such subpoenas.

Similar requests to attend the trial were received by Mark James Dubois and Kelly Kylie Chen. The former served as chief executive officer at 3AC, while Kelly Kylie Chen is the wife of Kyle Davis and co-owner of companies associated with Three Arrows Capital.

A federal judge ordered all those who received the summons to provide all information related to the financial component of the company. They will have to share all documents, logs, records that are directly related to the debtor's property or relationships with counterparties. Prior to this, the High Court of Singapore spoke of the need for Su Zhu and Kyle Davis to present them with an affidavit that would set out their entire relationship with 3AC.

Thus, the founders of Three Arrows Capital will be forced to provide the court with all the passwords from their wallets. The above include seed phrases that give access to cryptocurrency savings, private keys, and other things that can give access to existing digital assets.

The liquidators of Three Arrow Capital took $35,600,000 that belonged to the firm and was in banks in Singapore. In addition, they have filed a plea to sell the superyacht owned by 3AC founders Su Zhu and Kyle Davis. This watercraft is worth almost as much as the liquidators were able to collect from the Singapore banks from 3AC, namely $30,000,000.

The Court of the British Virgin Islands at the end of June 2022 ordered the liquidation of the 3AC hedge fund. Partners from consulting firm Teneo Restructuring were brought in to review and investigate the case. Nearly a month later, Three Arrows Capital filed for bankruptcy in a New York court. Company Representatives of the Nansen analytical blockchain service reported that 3AC managed more than $10,000,000,000.