Three Arrows assets are frozen
The assets of Three Arrows Capital (3AC) were frozen as part of a recent lawsuit. The bankruptcy judge imposed a ban on 3AC
On Tuesday, an emergency hearing was held in the Southern Bankruptcy Court of New York in the case of creditors of Three Arrows Capital.
During the trial, Judge Glenn Martin ruled that Three Arrows Capital cannot transfer or dispose of assets located in the United States, according to Yahoo! Finance today.
In addition, Judge Martin ruled that liquidators have the right to claim 3AC's assets in the United States, according to Reuters. Liquidators can also send subpoenas to the founders of 3AC and about 24 companies that may have relevant information.
Court-appointed liquidators are trying to determine the value and location of 3AC's assets, which have largely gone missing.
Adam Goldberg, a lawyer for the liquidators, says that to date only two groups of assets have been found: a legal advance payment in the New York firm Dan Tan Law and "rights under a number of loan agreements under New York law."
Goldberg also noted that since 3AC's assets are digital, there is a high risk that the founders will run away with these assets if today's court decision is not enforced.
He told Reuters that today's court order is intended to "notify the world" that liquidators now control 3AC's assets.
https://coin-signal.com/cryptonews/three-arrows-assets-are-frozen/
#Arrows, #Assets, #Cryptonews, #Frozen, #Three
#CryptoNews