Three Arrows Capital creditors express frustration with bankruptcy process during call

Kyle Davies, the co-founder of bankrupt hedge fund Three Arrows Capital (3AC), disclosed in a Twitter thread that the first meeting of 3AC creditors was held on Jan. 11. Davies invited all creditors to join the group and announced that it would meet regularly.

According to Davies, creditors continue to express frustration with the ongoing costs and handling of assets in the bankruptcy process, suggesting that, “inter creditor disputes are delaying the process, and the estate value is not being maximized.”

The group discussed several topics, including ways to reduce “ongoing legal costs, pursue claims on a contingency basis against Luna consortium/FTX/Genesis, and organize better ways to deal with asset sales/distributions.” 

This is a developing story, and further information will be added as it becomes available.

All Dutch and English crypto news!

‘LEAKED BIDS’ — Binance, Galaxy Digital among secret bidders for Celsius assets

At least five firms placed bids on Celsius Network's crypto assets, including Binance, Bank To The Future and Galaxy Digital, according to leaked information shared...

UK’s FCA hints at why its given only 15% of crypto firms the regulatory nod

Despite the plans to turn the region into a bustling crypto hub, the United Kingdom's financial watchdog says it has given the all-clear to only...

CFTC’s Johnson urges Congress for expanded powers in crypto oversight

Commodity Futures Trading Commission (CFTC) Commissioner Kristin Johnson has urged Congress to adopt legislation that "closes the current gap in the oversight of crypto spot...

US Senator Ted Cruz pushes for crypto in Congress… using snacks

Texan Republican Senator Ted Cruz is pushing the United States Congress to adopt cryptocurrency within its halls using an incentive both sides might agree on...

Beste exchanges

Koop je crypto bij Bitvavo