Three Arrows Capital Founder Speaks, Accuses Liquidators of Baiting
2022.07.13 08:06
Three Arrows Capital Founder Speaks, Accuses Liquidators of Baiting
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- Three Arrows Capital’s Zhu Su broke his silence after missing in action for 27 days to speak about 3AC’s collapse.
- Zhu said that his embattled firm had been baited by unknown liquidators.
- Authorities are still clueless about the whereabouts of 3AC’s founders.
Three Arrows Capital Co-founder Zhu Su finally broke his silence after missing in action for 27 days to speak about 3AC’s collapse. In a Twitter (NYSE:TWTR) post, Zhu says liquidators were baiting the hedge fund.
Sadly, our good faith to cooperate with the Liquidators was met with baiting. Hope that they did exercise good faith wrt the StarkWare token warrants. pic.twitter.com/CF73xI8r6n
— Zhu Su (@zhusu) July 12, 2022
Sharing screenshots of two emails from Advocatus Law, 3AC’s legal team, the co-founder said that his embattled firm had been baited by unknown liquidators. These liquidators have been claimed to have tricked 3AC into talks “without prejudice” to gather evidence for court filings.
Furthermore, the screenshots read that the hedge fund wanted to “work reasonably” with the liquidators to repay its obligations. The email also disclosed threats that the families of 3AC’s employees received over the company’s collapse.
3AC was also contacted by the Monetary Authority of Singapore (MAS), the Asian country’s central bank, looking into handing down sanctions over the alleged baiting.
It was also revealed that 3AC’s liquidators agreed to exercise a StarkWare token, which liquidators did not honor without warning. “Our client believes that your omission to exercise the Company’s rights to the StarkWare Exercise has caused the Company to lose substantial value,” the email read.
In related news, court documents show that lawyers representing 3AC claim that Zhu and the other founder of 3AC, Kyle Livingstone Davies, did not respond to requests, showing a lack of cooperation. Before the co-founder’s tweet, multiple reports have circulated that the founders have vanished, and officials are currently looking for their whereabouts.
