3AC co-founder Kyle Davies doesn’t respond to liquidators’ subpoena despite Twitter delivery –
According to recent court filings, Kyle Davies, co-founder of defunct cryptocurrency hedge fund Three Arrows Capital (3AC), allegedly failed to respond to a subpoena from the company’s current liquidators, although it was sent via Twitter. Teneo consultants say Davies continues to ignore his commitments to Three Arrows.
3AC liquidators are frustrated by the lack of response from the co-founders
A recent filing with the New York bankruptcy court alleges that 3AC co-founder Kyle Davies obstructed or disregarded motions by 3AC’s liquidation team. In addition, according to representatives of the consulting firm Teneo, Davies is accused of “shamelessly” recruiting investors for a new cryptocurrency project. On January 5, 2023, the 3acliquidation Twitter account served subpoenas 3AC founder via twitter.
Lawyers and two representatives for Teneo said in a court filing released Tuesday night that the liquidators have not yet received a response from Davies. While the lawyers state that the 3AC founders want to launch a new crypto project, the liquidators also mention that Davies has been active on social media. “He has not even attempted to reach the signing attorney to raise any objections or concerns regarding the subpoena’s subjects. It is not a matter of partial compliance, but no compliance at all,” the filing reads.
The liquidators add:
He is unquestionably aware of the subpoena… having been tagged in 41 replies and 64 retweets… and has once again chosen to ignore his duties to Three Arrows. Meanwhile, Mr Davies has continued to post on his Twitter account, openly ignoring the court’s guidelines and enjoying media attention while continuing to thwart efforts by foreign representatives to gain access to documents and information.
Liquidators have expressed frustration at their attempts to reach 3AC co-founders Su Zhu and Davies since the bankruptcy proceedings began. At the time, Zhu claimed that the couple communicated with all relevant authorities “from day one.” However, complaints from 3AC liquidators surfaced shortly after the defunct cryptocurrency hedge fund filed for bankruptcy protection, using Chapter 15 proceedings to protect the company’s assets in the United States.
According to reports and an interview with Davies in November 2022, Davies is believed to be in Bali. During the interview with CNBC’s Becky Quick asked Davies on whether he “was in Bali because Indonesia is one of the seven countries you will not extradite to the United States”. Zhu’s location is believed to be in either Singapore or the United Arab Emirates (UAE), but the exact location of one of the 3AC co-founders is uncertain at the time of writing.
What do you think of the allegations against Kyle Davies and the ongoing Three Arrows Capital lawsuit? Share your thoughts in the comments below.
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Source: Crypto News Deutsch
