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3AC liquidators file motion to hold Kyle Davies in contempt

Published 06/15/2023, 04:22 PM
Updated 06/15/2023, 06:00 PM

Three Arrows Capital (3AC) co-founder Kyle Davies should be held in contempt of court for ignoring a subpoena connected to bankruptcy proceedings, June 14 court filings from 3AC’s liquidators show. According to the creditor's legal team, Davies is purposely delaying asset recovery from the former crypto hedge fund.

The civil sanctions against Davies for his contempt include an award of attorneys’ fees and a $10,000 daily fine until he is in compliance. The motion does not apply to Su Zhu, the fellow co-founder of the bankrupt hedge fund. Due to his Singaporean citizenship, Zhu is not subject to the jurisdiction of the United States courts, Cointelegraph learned from Teneo, the firm serving as liquidator in the case.

Screenshot of motion for holding Kyle Davies to be in civil contempt. Source: Teneo

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