Three Arrows Creditors Get Emergency Hearing As Founders Fail to 'Cooperate'

Jul 11,2022
KingData News: A New York court has approved an emergency hearing for creditors on July 12 due to Three Arrows Capital's alleged failure to cooperate with the liquidation process. Already, NFTs belonging to Three Arrows’ NFT fund Starry Night have been transferred to a new wallet for unexplained reasons. The creditors are seeking to freeze Three Arrows’ assets. But first, they are requesting the court to compel Three Arrows’ founders to list out the fund’s assets. Lawyers acting on behalf of the creditors said that the founders of the fund “have not yet begun to cooperate with the [proceeding] in any meaningful manner.”
On June 13, Zhu Su, co-founder of Three Arrows Capital, has removed ETH, AVAX, LUNA, SOL, NEAR, MINA and other Tokens from his Twitter profile. On June 15, sources revealed that the total liquidation amount of Three Arrows Capital on Deribit, BlockFi and other lending platforms was up to $400 million. This indicator provides a real-time tracking of news reports on Three Arrows Capital's liquidity crisis.
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