The Singapore High Court granted a request from Three Arrows Capital liquidators to probe the fund’s local assets, according to a report from Bloomberg.
The Singapore High Court granted a request from the liquidators of Three Arrows Capital to probe the fund’s local assets.
The move means the liquidators will be able to request all financial records associated with the fund that are held in Singapore. Teneo, the financial advisory firm appointed to liquidate the assets of defunct crypto hedge fund Three Arrows Capital, secured recognition from the Singapore High Court to probe the hedge fund’s local assets,The Singapore High Court granted the request from Teneo on Monday, meaning it legally recognizes the liquidation order that Teneo originally filed in the British Virgin Islands .
Three Arrows Capital started to face financial issues following the implosion of the Terra ecosystem in mid-May. Losses from its investments in Terra's native token Luna, coupled with subsequent turbulence in crypto markets, prompted aTeneo has thus far gained control of at least $40 million of Three Arrows Capital’s assets,Crypto trading firm Genesis
. Having taken on Genesis' liabilities, Digital Currency Group made a $1.2 billion claim against the hedge fund.
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Singapore High Court Recognizes Three Arrows Capital Liquidation Order: ReportSingapore High Court has granted a request from Three Arrows Capital liquidator, Teneo, which will allow the firm to look into the defunct hedge fund's local assets, according to a report. By oknightcrypto.
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