Key Takeaways
- • A British Virgin Islands court ordered the liquidation of Three Arrows Capital Ltd., the crypto hedge fund, after creditors sued it for failing to repay debts, according to the Wall Street Journal.
- • The creditor lawsuits centered on the fund's failure to repay loans, marking a formal legal step toward winding up the firm.
- • Nichol Yeo, a partner at Solitaire LLP, said Three Arrows Capital is considering its options and seeking legal advice in the British Virgin Islands.
Summary
A British Virgin Islands court has ordered the liquidation of Three Arrows Capital Ltd., the cryptocurrency hedge fund, following lawsuits filed by creditors who said the firm had failed to repay loans, the Wall Street Journal reported. The order places the fund's remaining assets under a formal winding-up process in the BVI, where the firm is domiciled.
The liquidation order follows a series of creditor actions over unpaid debts. The source material does not specify the amounts owed, the identities of the individual creditors, or the size of the fund's remaining assets.
Nichol Yeo, a partner at law firm Solitaire LLP, said Three Arrows Capital is considering its options and seeking legal advice in the British Virgin Islands. Her comments indicate the firm has not yet determined how it will respond to the court's decision.
The liquidation order follows a series of creditor actions over unpaid debts. The source material does not specify the amounts owed, the identities of the individual creditors, or the size of the fund's remaining assets.
Nichol Yeo, a partner at law firm Solitaire LLP, said Three Arrows Capital is considering its options and seeking legal advice in the British Virgin Islands. Her comments indicate the firm has not yet determined how it will respond to the court's decision.
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