Crypto hedge fund Three Arrows Capital (3AC) is searching for safety from collectors in the USA below Chapter 15 of the US Chapter Code, which permits international debtors to defend US belongings, in accordance with a court docket submitting on Friday.
Singapore-based 3AC is likely one of the highest-profile buyers hit by the sharp sell-off in crypto markets and is being liquidated, Reuters reported on Wednesday, citing an individual aware of the matter.
Representatives for 3AC filed a petition within the US Chapter Court docket for the Southern District of New York on Friday, in accordance with court docket paperwork.
On Thursday, Singapore’s monetary regulator had accused embattled the fund of exceeding its belongings threshold and offering false info.
Non US-companies use Chapter 15 to dam collectors who wish to file lawsuits or tie up belongings in the USA.
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