“Sadly, our good faith to cooperate with the liquidators was met with baiting,” Zhu Su said in his first tweet in nearly four weeks. The tweet contained screenshots of two emails sent out by Christopher Anand Daniel of Advocatus Law, Zhu Su’s legal counsel, to the team of 3AC liquidators.
In exchanged mails, Zhu Su’s legal counsel questioned the liquidators' failure to exercise StarkWare's token purchase offer and said that his clients’ families were threatened. Additionally, legal aid accused liquidators of baiting both founders while neglecting their efforts to work with them.
The Singapore-based crypto hedge fund filed for Chapter 15 bankruptcy at the beginning of July, a move meant to protect its assets from US creditors while liquidation is taking place under the jurisdiction of the British Virgin Islands. Founded by former Walls Street traders Zhu Su and Kyle Davies, Three Arrows Capital had about $10b in assets under management in March, which later contracted to $3b in April. Two weeks ago, 3AC failed to pay a $670m loan provided by Voyager Digital, which has since filed for bankruptcy as well.