The attorneys for the founders of Three Arrows Capital (3AC) have criticized the court filing as disappointing and charged the creditors with luring their clients.
Following a brief lull on social media, Three Arrows Capital (3AC) co-founder Zhu Su stated that their “good faith” to work with the hedge fund’s liquidators was “received with taunting.”
Additionally, he published screenshots of emails from Advocatus Legal LLP, the Singapore-based law company representing the fund’s creators, in which it was stated that the firm would take the required actions to obtain the proper fines.
The creditors were questioned by the law firm about whether they had made any mention in the court documents of the physical threats against the 3AC founders and their families.
Advocatus Legal LLP added that given the current change of events, their clients would forgo a teleconference that was set for today because they have been working under a lot of time constraints.
The statement was given a day after the lawyers for the troubled hedge fund’s founders informed the court that they were not cooperating in their request for immediate temporary relief.
An abandoned office and a mountain of old mail were also discovered, according to the document filed with the US Bankruptcy Court for the Southern District of New York. They claimed to have been unable to find the founders and made the wild assumption that they may have left Singapore.
The court-appointed attorneys had also requested that the founders be served with a subpoena demanding that they produce a list of the business’s assets, including any wallets, bank accounts, digital assets, derivatives contracts, securities, accounts receivable, and all company records.
The most recent email sent by Zhu’s attorneys included a spreadsheet with information on the company’s assets in order to comply with the requests.