Crypto lender 3AC’s liquidators are trying to preserve the Singapore assets of the now bankrupt hedge fund.
The advisory firm Teneo sought an order from the High Court on July 15 to recognize the British Virgin Islands (BVI) liquidation order and for Teneo’s Mr Russell Crumpler and Mr Christopher Farmer to carry out their duties as joint liquidators here.
If successful, Teneo’s lawyers would be able to protect the fund’s assets in favor of the creditors and subpoena the co-founders, Su Zhu and Kyle Davis, whose whereabouts are unknown.
Liquidators can also try to determine the degree of guilt of the founders. If proved that 3AC’s collapse was due to the negligence or misconduct of its co-founders, then their personal assets will be seized on behalf of the creditors.
