The founders of Three Arrows Capital are missing, and the evidence suggests they might be on the run.
According to a bombshell court document filed in the US Bankruptcy Court on Friday, representatives from the British Virgin Islands judge-appointedliquidation crew decided to visit the company's Singapore office after failing to receive any "meaningful cooperation" from the company's founder.
The reps were met with a locked door and a lot of mail when they arrived.
An emergency hearing is set to take place today as a result of the filing, but as this attempted courtesy call took place in late June and neither founder has yet to emerge, it's likely that they won't show up in court.
The strange behavior around the bankruptcy isn't surprising.
The reps claim in the suit that the hedge execs and their lawyers didn't show up for the video meeting. Their video was turned off and they weren't speaking despite questions being posed to them directly.
A lot of people are indebted to Su and Davies. Their Singapore-based firm collapsed after they failed to pay off their debts to two different companies
The liquidators are trying to prevent the dissipation of any remaining funds. According to the suit, most of 3AC's assets are "readily transferable" digital coins and NFTs, or just straight cash.
It is our hope that Su and Davies are okay. All of us have run from our problems before. Our problems were not really that serious.
Three Arrows Capital Office is missing and the owners have not been heard from in a long time.
The Horrifying Loan scheme allows people to buy nfts in installments.
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