Crypto hedge fund Three Arrows Capital has filed for Chapter 15 chapter, a transfer that protects its US property whereas a liquidation is carried out within the British Virgin Islands.
Representatives for Three Arrows filed the chapter petition in New York on Friday, court docket papers present. Chapter 15 chapter filings cease collectors from seizing an organization’s property within the US.
A British Virgin Islands court docket ordered the liquidation of Three Arrows Capital earlier this week. The fund, based by former Credit score Suisse merchants Zhu Su and Kyle Davies, managed an estimated $10 billion of property as just lately as March, in response to blockchain analytics agency Nansen.
The regulation agency Latham & Watkins is representing Three Arrows within the US chapter.
The case is Three Arrows Capital Ltd and Russell Crumpler, 22-10920, U.S. Chapter Court docket for the Southern District of New York (Manhattan).
