The liquidators of the failed cryptocurrency hedge fund, Three Arrows Capital (3AC), have received support from the Singapore High Court, which may help them shed more light on the collapsed firm, Bloomberg has learned.
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With the support, advisory firm Teneo, which is responsible for 3AC's liquidation, will now request access to financial records, which the fund kept locally, sources close to the investigation said. Without this approval, the liquidators had no legal basis to do.
Now, Teneo will try to sort through the documents to understand what assets 3AC held in Singapore: bank accounts, cryptocurrencies, non-fungible tokens (NFTs), real estate and so on.
Three Arrows Capital filed for bankruptcy under chapter 15 of the US Bankruptcy Code in early July after it had failed to repay Voyager Digital over 15,000 BTC and $350 million in USDC. In total, 3AC owes $3.5 billion to over 25 different companies.
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