Founders of Three Arrows Capital Served with Subpoenas via Twitter

On January 5th, Zhu Su and Kyle Davies, the founders of Three Arrows Capital, were served with subpoenas on Twitter following a court order from the United States bankruptcy court.

This order was granted to the liquidators, who were given permission to issue the subpoenas by authorities in Singapore.

The subpoena requires Su and Davies to provide all available documents, regardless of whether they possess the information directly or if it is held by any other individuals or entities affiliated with them.

If the co-founders no longer possess the required documents, the subpoena requires them to specify the date and nature of the document and explain why it is unavailable.

The court order was specifically granted by the Southern District of New York Bankruptcy Court for Davies, who is a U.S. citizen, while both co-founders were served with the subpoena by Singapore's courts, according to a spokesperson from Teneo.

According to Cointelegraph, the lawyers for the liquidators have had difficulty in getting in touch with the founders of Three Arrows Capital in recent months. Despite agreeing to a communication protocol, the founders have not been cooperative, according to a presentation given at a hearing on December 2nd.

The liquidators are attempting to obtain account information, seed phrases, and private keys for 3AC's digital and fiat assets, information about securities and unregistered shares, and any accounts held on centralized or decentralized exchanges, as well as any other tangible or intangible assets.

At its peak, the hedge fund had a net worth of $10 billion, but it filed for bankruptcy under Chapter 15 on July 1st.

In December 2022, the liquidators announced that they had tried to serve the founders with subpoenas through Twitter. However, there have been complications in the bankruptcy process for Three Arrows Capital due to the uncertain whereabouts of its founders.

The liquidators have previously stated that the founders are located in Indonesia and the United Arab Emirates, where it is difficult to enforce foreign court orders.

The citizenship and location of the founders have also been questioned by the court, as it may affect the court's ability to assert personal jurisdiction over them.