Three Arrows Capital (3AC) co-founder Kyle Davies is predicted to be held in contempt of court docket for ignoring a summons in reference to a chapter case, in response to reviews on June 14. In response to the creditor’s authorized staff, Davies is intentionally delaying restoration of property from the previous crypto insurance coverage fund.
Civil penalties towards Davies for his contempt embrace legal professional’s charges and a superb of $10,000 per day till he complies. The provide doesn’t apply to Su Zhu, one other founding father of the bankrupt hedge fund. Due to his Singaporean citizenship, Zhu just isn’t topic to the jurisdiction of United States courts, Cointelegraph discovered from Teneo, which is performing as liquidator within the case.
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