Three Arrows Capital (3AC) co-founder Kyle Davies is about to face contempt of court docket for ignoring a subpoena associated to chapter proceedings, in response to paperwork filed by 3AC’s liquidators on June 14. In keeping with the creditor’s authorized group, Davies is intentionally delaying the restoration of property from the previous crypto hedge fund.
Civil penalties in opposition to Davies for his contempt embrace an award of lawyer’s charges and a $10,000 day by day superb till he complies. The movement doesn’t apply to Su Zhu, the co-founder of the bankrupt hedge fund. Attributable to his Singaporean nationality, Zhu isn’t topic to the jurisdiction of US courts, Cointelegraph discovered from Teneo, the corporate serving as liquidator within the case.
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