The total amount of unsettled obligations of Three Arrows Capital (3AC) reached $2.8 billion. This was reported by user DrSoldmanGachs, who describes himself as a creditor of the liquidated hedge fund and an investor affiliated with Starry Night Capital.
Total value of all claims is $2.8 billion, with more to come. Some claimants have only filed for $1 with the right to increase.
— Soldman Gachs ⌐◨-◨ (@DrSoldmanGachs) July 18, 2022
According to documents provided by DrSoldmanGachs, among the creditors are DCG, Voyager, Algorand, DeFiance Capital, Celsius Network, BlockFi, Moonbeam Network, Galaxy Digital, BitGo, SBI Crypto, CoinList, one of the co-founders of 3AC Su Zhu ($5 million), and also the entity affiliated with Three Arrows Capital Limited ($25 million).
The first meeting in the liquidation process will be held on July 18 in the British Virgin Islands. It will consider whether to replace the liquidator and decide on convening a creditors’ committee.
I’ve just seen the list of creditors to #3AC and noticed that @zhusu has filed a claim for $5 million. While being on the run, he has somehow found the time to diligently and ruthlessly fill out forms to pursue a claim against his own Fund. https://t.co/YFfWmYZOoM
— Soldman Gachs ⌐◨-◨ (@DrSoldmanGachs) July 18, 2022
DrSoldmanGachs suggested that the founders of 3AC do not intend to participate in the proceedings.
Earlier media reported that the liquidators of Three Arrows Capital are trying to conduct an investigation and safeguard the Singapore-based assets of the crypto hedge fund.
In early July, 3AC filed for bankruptcy in a New York court.
Previously, the Virgin Islands court ordered the liquidation of Three Arrows Capital.
Earlier reports indicated that information about insolvency of 3AC appeared amid a downturn in the crypto market and the Terra crash.
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