Teneo, the liquidator of bankrupt hedge fund Three Arrows Capital (3AC), is reportedly trying to recover about $1.3 billion from 3AC founders Su Zhu and Kyle Davies.
As reported by Bloomberg on June 27, liquidatorsclaimed Kyle Davies and Su Zhu incurred $1.3 billion in debt when 3AC became insolvent. causing more losses to creditors 3AC reportedly owes its creditors $3.5 billion. As a result, the founder’s debt is more than 1/3 of the total debt.
A Teneo spokesman said the goal of seeking $1.3 billion from 3AC’s founders was “generally deliberate,” according to creditors’ June 27 presentations.
The report comes one year after a court in the British Virgin Islands ordered 3AC to liquidate on June 27, 2022. In July 2022, the company also filed for Chapter 15 with the US Bankruptcy Court for the Southern District of New York.
Although Davies and Zhu remained active on social media through the liquidation process, But we still do not know much about their whereabouts. by in june The pair helped launch Open Exchange, a trading claims platform against bankrupt crypto entities.
The 3AC founder’s past assets include a digital art collection being auctioned through Sotheby’s, with one piece in the collection being Dmitri Cherniak’s “The Goose” artwork, which sold for $6.2 million. in june
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