– Crypto hedge fund Three Arrows Capital (3AC) is looking for safety from collectors in america underneath Chapter 15 of the U.S. Chapter Code, which permits international debtors to defend U.S. property, based on a court docket submitting on Friday.
Singapore-based 3AC is without doubt one of the highest-profile buyers hit by the sharp sell-off in crypto markets and is being liquidated, Reuters reported on Wednesday, citing an individual accustomed to the matter.
Representatives for 3AC filed a petition within the U.S. Chapter Court docket for the Southern District of New York on Friday, based on court docket paperwork.
On Thursday, Singapore’s monetary regulator had accused embattled the fund of exceeding its property threshold and offering false info.
Non U.S.-companies use Chapter 15 to dam collectors who wish to file lawsuits or tie up property in america.
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