Key Points: According to a court document Kyle Davies has refused to contact Three Arrows Capital liquidators.
Davies and Zhu tried to raise millions of dollars to create a new cryptocurrency exchange, but he was ignorant.
According to court documents, Kyle Davies, co-founder of the defunct crypto hedge funds Three Arrows Capital (3AC), refuses to speak with liquidators. Davies and his cofounder Su Zhu fled the country as the company filed for bankruptcy in New York City and the British Virgin Islands. Three Arrows owes approximately $3 billion to its creditors. Davies did not respond to requests for comment.
He is undoubtedly aware of the Subpoena, having been tagged in 41 replies, 64 retweets, and has once again chosen to ignore his obligations to Three Arrows, including the obligation to comply with the Subpoena Order.
Russell Crumpler of TeneoTwo and Christopher Farmer of TeneoTwo, the estate’s representatives, claimed that Davies and Zhu’s recent attempt at raising tens of million dollars for a new crypto exchange was further proof of his failures to uphold his fiduciary duties to the company.
He has not attempted to reach out undersigned counsel to express concern or objection to the Subpoena topics. This is not a question about partial compliance, but of complete compliance.
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