Leaked Legal Document Clarifies Three Arrows Capital’s Bankruptcy!


3AC reportedly owes 27 companies $3.5 billion. A leaked legal affidavit lists the claims of Three Arrows Capital’s creditors and shows Su Zhu’s and Kyle Davies’s reckless spending, including a mega-yacht paid for with a loan.

A leaked document of 1157 pages from a court in the British Virgin Islands summed up what the Three Arrows Capital insolvency saga already revealed and shed light on new aspects of the failure that resulted in the contagious crippling of the crypto markets.

3AC’s joint liquidators filed the leaked document (JLs) Russell Crumpler and Christopher Farmer of Teneo Limited to substantiate the liquidation proceedings in the Singapore courts.

Some of the assets that will be liquidated at the success of the application are Su Zhu’s Singapore mansions. One of them was purchased in Su Zhu’s wife’s name for $20 million in 2020. The other, worth $35 million, was reportedly up for sale.

The affidavit argued that Zhu wants to sell the property hurriedly so it won’t be liquidated; following the text message circulating in Singapore’s Real Estate Agents on a property up for sale in Yarwood is of the same size and price as Zhu.

Another asset is a $50 million mega yacht, payment of which is incomplete and scheduled to be delivered to Italy in the next two months. The affidavit added, “There has been speculation that the yacht was purchased with borrowed funds.”

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