{"id":17419,"date":"2023-02-08T19:29:28","date_gmt":"2023-02-08T19:29:28","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/3ac-co-founder-kyle-davies-fails-to-respond-to-liquidators-subpoena-despite-twitter-delivery-bitcoin-news\/"},"modified":"2023-02-08T19:29:28","modified_gmt":"2023-02-08T19:29:28","slug":"3ac-co-founder-kyle-davies-fails-to-respond-to-liquidators-subpoena-despite-twitter-delivery-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/3ac-co-founder-kyle-davies-fails-to-respond-to-liquidators-subpoena-despite-twitter-delivery-bitcoin-news\/","title":{"rendered":"3AC Co-Founder Kyle Davies Fails to Respond to Liquidators’ Subpoena Despite Twitter Delivery \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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According to recent court filings, Kyle Davies, co-founder of the defunct cryptocurrency hedge fund Three Arrows Capital (3AC), has allegedly failed to respond to a subpoena from the firm\u2019s current liquidators, despite it being sent via Twitter. Representatives from advisory company Teneo state that Davies continues to ignore his obligations to Three Arrows.<\/strong><\/p>\n

3AC Liquidators Frustrated With Lack of Response From Co-Founders<\/h2>\n

A recent filing submitted to the New York bankruptcy court states that Kyle Davies, co-founder of 3AC, is obstructing or disregarding requests from the 3AC Liquidation team<\/a>. Additionally, according to representatives from advisory firm Teneo, Davies is accused of soliciting investors \u201cshamelessly\u201d for a new cryptocurrency project. On Jan. 5, 2023, the \u201c3acliquidation\u201d Twitter account served<\/a> subpoenas to the 3AC founders<\/a> via Twitter.<\/p>\n

Lawyers and two representatives from Teneo explained in a court filing released Tuesday night that the liquidators have yet to receive a response from Davies. While the lawyers note that the 3AC<\/a> founders are looking to start a new crypto project<\/a>, the liquidators also mention that Davies has been active on social media. \u201cHe has not even attempted to reach out to undersigned counsel to voice an objection or concern with the topics of the subpoena. This is not a question of partial compliance, but of no compliance whatsoever,\u201d the filing details.<\/p>\n

The liquidators add:<\/p>\n

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He is, without question, aware of the Subpoena \u2026 having been tagged in 41 replies and 64 retweets \u2026 and has, once again, chosen to ignore his duties to Three Arrows. All the while, Mr. Davies has continued to post on his Twitter account, openly ignoring the Court\u2019s directives and enjoying media attention while he continues to thwart efforts by the Foreign Representatives to gain access to documents and information.<\/p>\n<\/blockquote>\n

Liquidators have expressed<\/a> frustration about their attempts to reach 3AC co-founders Su Zhu and Davies since the bankruptcy proceedings began. At the time, Zhu maintained that the pair has been communicating with all relevant authorities \u201cfrom day one.\u201d However, complaints from 3AC liquidators emerged<\/a> shortly after the defunct cryptocurrency hedge fund filed<\/a> for bankruptcy protection, using the Chapter 15 process to safeguard the company\u2019s assets in the United States.<\/p>\n

According to reports and an interview with Davies in November 2022, Davies is believed to be in Bali. During the interview, CNBC\u2019s Becky Quick asked<\/a> Davies if he was \u201cin Bali because Indonesia is one of the seven countries that won\u2019t extradite you to the United States.\u201d Zhu\u2019s location is thought<\/a> to be either Singapore or the United Arab Emirates (UAE), but the exact location of either 3AC co-founder is uncertain as of writing.<\/p>\n

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2023<\/a>, 3AC<\/a>, 3AC founders<\/a>, advisory firm<\/a>, Assets<\/a>, bali<\/a>, Bankruptcy Court<\/a>, Becky Quick<\/a>, Chapter 15 process<\/a>, cnbc<\/a>, co-founder<\/a>, Communication<\/a>, Complaints<\/a>, Court Filing<\/a>, Cryptocurrency Hedge Fund<\/a>, defunct<\/a>, duties<\/a>, extradition<\/a>, Indonesia<\/a>, interview<\/a>, Jan 5<\/a>, Kyle Davies<\/a>, liquidation team<\/a>, liquidators<\/a>, Media Attention<\/a>, new crypto venture<\/a>, new york<\/a>, November 2022<\/a>, Relevant authorities<\/a>, Representatives<\/a>, response<\/a>, shamelessly<\/a>, Singapore<\/a>, soliciting investors<\/a>, Subpoenas<\/a>, Teneo<\/a>, Three Arrows<\/a>, Three Arrows Capital<\/a>, Tuesday evening<\/a>, Twitter<\/a>, UAE<\/a>, uncertain location<\/a>, United States<\/a><\/div>\n<\/div>\n

What do you think of the allegations against Kyle Davies and the ongoing legal battle for Three Arrows Capital? Share your thoughts in the comments below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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