Court Freezes Three Arrows Co-Founders $1B Worth of Assets

• A British Virgin Islands court freezes assets worth around $1 billion belonging to 3AC co-founders.
• The court order prevents co-founders Su Zhu, Kyle Davies, and Davies’s wife from transferring or selling the assets. 
• A Singapore court issued a domestic freeze order against the co-founders as the liquidator tried to recover assets.

A British Virgin Islands court has frozen around $1 billion in assets owned by the founders of cryptocurrency hedge fund Three Arrows Capital, Bloomberg reported, citing statements from the firm’s liquidator, Teneo. 

Indeed, the court order froze assets worth up to $1.14 billion owned by Co-Founders Su Zhu and Kyle Davies. By extension, the order also restricts Davies’ wife, Kelly Chen, from transferring or selling any of the assets. 

The British Virgin Islands court order follows a domestic freezing order issued by a Singapore court, Teneo said. Last week, Zhu made his first appearance in a Singapore court as liquidators sought information to retrieve assets. 

During the hearing, Zhu was questioned on the whereabouts of assets and details on how the crypto hedge fund failed. The liquidator estimates that creditors are owed…

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