Three Arrows Capital (3AC) liquidators have received court approval to investigate the remaining assets of the hedge fund that collapsed in Singapore.
Three Arrows Capital, which operated in Singapore until the beginning of May, was among the companies that collapsed with the explosion of the Terra stablecoin project in the same period. Then the Three Arrows had to star in many lawsuits. The latest update on the subject came from the Singapore Supreme Court.
Three Arrow Capital’s Singapore Assets To Be Investigated
Three Arrows was ordered to be liquidated by the British Virgin Islands court in June. With this decision, the consultancy firm Teneo was appointed as the liquidation manager to 3AC. According to the news in Bloomberg, Teneo petitioned for the same order to be recognized in Singapore and was approved by the court.
Teneo’s liquidators, who have received court approval to investigate the hedge fund’s remaining assets, plan to focus on determining which assets can be linked to Three Arrows, such as bank accounts held in Singapore, properties, cryptocurrencies, NFTs and shares in companies.
Allegedly, 3AC creditors filed paperwork in court documents showing they owed more than $2.8 billion in unsecured claims. It is not clear where the said Singapore funds will be transferred, and it is eagerly awaited what explanations 3AC will make.
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