{"id":63660,"date":"2022-06-29T14:32:51","date_gmt":"2022-06-29T11:32:51","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63660"},"modified":"2025-09-06T10:15:31","modified_gmt":"2025-09-06T07:15:31","slug":"british-virgin-islands-court-orders-liquidation-of-three-arrows-capital","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/british-virgin-islands-court-orders-liquidation-of-three-arrows-capital\/","title":{"rendered":"British Virgin Islands court orders liquidation of Three Arrows Capital"},"content":{"rendered":"<p>The Court of the British Virgin Islands has ordered the liquidation of hedge fund Three Arrows Capital (3AC). <a href=\"https:\/\/news.sky.com\/story\/crypto-hedge-fund-three-arrows-capital-plunges-into-liquidation-12642402\">Sky News<\/a>, citing sources familiar with the matter, reports.<\/p>\n<p>According to sources familiar with the matter, partners from consulting firm Teneo Restructuring were brought in to review the organization&#8217;s insolvency case. 3AC has not commented on the information.<\/p>\n<p>According to <a href=\"https:\/\/opencorpdata.com\/lei\/54930062QQQOHPBEVM34\">\u043e\u0442\u043a\u0440\u044b\u0442\u044b\u043c \u0434\u0430\u043d\u043d\u044b\u043c<\/a>, the firm Three Arrows Capital, Ltd is registered in the British Virgin Islands. Its registered office address lists Singapore as the headquarters.<\/p>\n<p>In May 2022, co-founder Su Zhu said that the fund <a href=\"https:\/\/forklog.com\/en\/news\/three-arrows-capital-to-relocate-headquarters-from-singapore-to-dubai\">plans to relocate<\/a> its headquarters to Dubai. Among the reasons he cited was a more favourable regulatory environment.<\/p>\n<p>However, in June a representative of the <span data-descr=\"Dubai Financial Services Authority\" class=\"old_tooltip\">DFSA<\/span> <a href=\"https:\/\/forklog.com\/en\/news\/dubai-regulator-says-three-arrows-capital-has-no-license-to-operate-in-the-emirate\">stated that there was no<\/a> license for the hedge fund to operate in the emirate.<\/p>\n<p>In June, amid a collapse in the crypto market, there were <a href=\"https:\/\/forklog.com\/en\/news\/three-arrows-capital-co-founder-breaks-silence-amid-insolvency-rumors\">rumours of insolvency surrounding Three Arrows Capital<\/a>. Trading firm 8 Blocks Capital accused the hedge fund of <a href=\"https:\/\/forklog.com\/en\/news\/3ac-accused-of-using-client-funds-to-cover-margin-calls\">using client funds to cover margin calls<\/a>.<\/p>\n<p>According to some reports, cryptocurrency platforms BitMEX, FTX and Deribit <a href=\"https:\/\/forklog.com\/en\/news\/three-arrows-capital-positions-liquidated-on-bitmex-ftx-and-deribit\">liquidated 3AC&#8217;s positions<\/a> amid the fund&#8217;s failure to meet margin requirements.<\/p>\n<p>On June 17, co-founder Kyle Davies said that <a href=\"https:\/\/forklog.com\/en\/news\/3ac-considers-asset-sales-to-rescue-the-company\">Three Arrows Capital hired legal and financial advisers<\/a> to work out a solution for its investors and creditors.<\/p>\n<p>Earlier on June 27, crypto broker <a href=\"https:\/\/forklog.com\/en\/news\/voyager-digital-issues-default-notice-to-3ac\">Voyager Digital<\/a> sent 3AC a notice of default due to nonpayment of the loan.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news in our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British Virgin Islands court has ordered the liquidation of hedge fund Three Arrows Capital (3AC), Sky News reports, citing sources.<\/p>\n","protected":false},"author":1,"featured_media":63661,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1352,2320],"class_list":["post-63660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-three-arrows-capital","tag-virgin-islands"],"aioseo_notices":[],"amp_enabled":true,"views":"33","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/63660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=63660"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/63660\/revisions"}],"predecessor-version":[{"id":63662,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/63660\/revisions\/63662"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/63661"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=63660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=63660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=63660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}