Kyle Davies Ignores 3AC Despite His Massive Tagged On Twitter

Key Points:

• According to a court document, Kyle Davies has ignored Three Arrows Capital liquidators’ attempts to get in touch with him.
• Besides his ignorance, Davies and Zhu’s recent attempt to raise tens of millions of dollars for a new cryptocurrency exchange.

According to a court document, Kyle Davies, the co-founder of the defunct crypto hedge fund Three Arrows Capital (3AC), is still refusing to speak with the firm’s liquidators.

The liquidators claimed in a February 7 filing with the US Bankruptcy Court for the Southern District of New York that after receiving the subpoena on Jan. 5, Davies continued to post on his Twitter account, “openly ignoring the Court’s directives and enjoying media attention while he continues to thwart efforts” to obtain documents and information about the case.

Three Arrows was shut down in June of last year due to a series of spectacularly bad cryptocurrency bets. Davies and his co-founder Su Zhu hurriedly fled the country while the company filed for bankruptcy in New York and the British Virgin Islands. Three Arrows owes its creditors about $3 billion.

Requests for comment regarding the filing were not immediately answered by Davies.

He is, without question, aware of the Subpoena—having been tagged in 41 replies and 64 retweets—and has, once again, chosen to ignore his duties to Three Arrows, including the duty to comply with the Subpoena Order and respond to the Subpoena.

 wrote Russell Crumpler and Christopher Farmer of Teneo

Two of the estate’s representatives, Russell Crumpler and Christopher Farmer, claimed in the lawsuit that Davies and Zhu’s recent attempt to raise tens of millions of dollars for a new cryptocurrency exchange was additional proof of his failure to uphold his fiduciary obligations to the company.

He has not even attempted to reach out to undersigned counsel to voice an objection or concern with the topics of the Subpoena. This is not a question of partial compliance, but of no compliance whatsoever.

they added

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