Share this article
Three Arrows Liquidators Ask Singapore Court to Recognize Company's BVI Bankruptcy: Straits Times
Three Arrows’ liquidators are working to get Singapore courts to recognize the British Virgin Islands liquidation order against it, in order to preserve the company's Singapore assets.
By Sam Reynolds
Updated May 11, 2023, 4:22 p.m. Published Jul 15, 2022, 8:19 a.m.
Make us preferred on Google
The liquidation process of Three Arrows Capital is going to move to Singapore next, if lawyers representing the British Virgin Islands (BVI)-based liquidators are successful, the Straits Times reported Friday.
- The Times reported that BVI-based Teneo has hired Singapore-based WongPartnership LLP to petition the High Court for provisional relief that would allow Teneo to administer Three Arrows’ assets in the city-state and subpoena co-founders Su Zhu and Kyle Davies.
- If Teneo’s lawyers are successful, Teneo would be able to secure Three Arrows’ assets in Singapore for the hedge fund’s creditors, lawyers who spoke to The Times said.
- One route that lawyers could take is to examine what fault the founders had in the fall of Three Arrows.
- Should the liquidators be able to prove that the collapse of Three Arrows was due to the mismanagement or misconduct of its co-founders, there might be a pathway to pursue seizing their assets for the benefit of creditors, lawyers said.
- Zhu is in the process of selling a house worth close to S$50 million (US$35 million), CoinDesk reported, and has a number of properties under both his and his wife’s name.
- Three Arrows’ over the counter trading desk, TPS Capital, is said to be cash-rich and will likely be included in the lawyers’ application.
- It is not known when the court will make its decision.
- The case is far from a sure thing, lawyers that spoke to CoinDesk have said, and Three Arrows will have a number of defenses available to them.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Michael Saylor's Strategy catches a break from MSCI, but analysts caution fight isn’t over yet
MSCI won’t drop firms like Strategy from indexes yet, but a broader rule change may still be on the table
What to know:
- Shares of Strategy rose 6% after MSCI decided not to exclude digital asset treasury firms from its indexes.
- The decision alleviates immediate pressure on companies holding large amounts of bitcoin but not directly operating in the blockchain sector.
- Analysts caution that the situation may not be resolved, as future MSCI rule changes could still impact firms like Strategy.
Top Stories
