(Bloomberg) - Zhu Su, the co-founder of bankrupt crypto hedge fund Three Arrows Capital, broke an almost month-long silence with a tweet accusing court-appointed liquidators of “baiting.”
In his first Twitter posting since June 15, Zhu shared a screen shot of what appears to be an email exchange between the fund’s legal counsel at Advocatus Law LLP and an executive in charge of liquidating Three Arrows.
A phone call to Advocatus’s Singapore office outside of regular business hours went unanswered.
The tweet came after court filings alleged that representatives tapped by a British Virgin Islands court to liquidate Three Arrows hadn’t gotten “meaningful cooperation” from Zhu and co-founder Kyle Davies. A court hearing in the case is scheduled for Tuesday.
Russell Crumpler of Teneo, the firm appointed by the BVI court to liquidate Three Arrows, said in a sworn declaration that liquidators are trying prevent the potential “dissipation” of the fund’s assets.
Three Arrows collapsed last month following a selloff in digital assets triggered by the implosion of algorithmic stablecoin TerraUSD. Insolvency proceedings started in the British Virgin Islands, and were followed by a Chapter 15 bankruptcy filing in the US. The firm’s failure has rippled through through the highly interconnected cryptocurrency market, with one of Three Arrows’ creditors already filing for bankruptcy protection.
By Anna Irrera
