Su Zhu, founder of Three Arrows Capital (3AC), submitted the affidavit from Bangkok. About the false testimony of Teneo, the liquidator, on Aug. 19, according to Bloomberg.
Teneo, a consulting company Appointed as liquidator in June to make the payment of 3AC assets, which according toreport of Bloomberg on friday Su Zhu filed an affidavit from Bangkok on August 19, claiming that the company’s liquidators had used information “Misleading and inaccurate” in their case in Singapore’s High Court.
Teneo previously claimed that Zhu and another co-founder, Kyle Davies. Not cooperating in the liquidation process
According to Su Zhu’s affidavit, Teneo misrepresented the operations and relations between 3AC-related entities, including the timeline of events. Zhu stated that Three Arrows Capital Pte Ltd (TACPL) was registered in Singapore so far. The date was July 31, 2021 and was replaced on September 1 of that year by ThreeAC Ltd in the British Virgin Islands as the master fund manager and two funds — Three Arrows Fund Ltd, registered in the British Virgin Islands, and Three Arrows Fund. LP is registered in the US state of Delaware.
As a result, Three Arrows Capital was unable to comply with Teneo’s request for information, Zhu said, and that could lead to The “potentially serious consequences of liquidators from exercising their powers” range from fines to jailing Three Arrows Capital officials and agents for contempt of court.
Teneo responded in a statement to Zhu’s testimony, saying, “The joint liquidator disagrees with the position set forth in Su Zhu’s affidavit. […] We remain optimistic that the other party will provide access to complete records and all relevant information. so that we can perform our duties in the best interest of 3AC creditors.”
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