Kyle Davies, Ju Su, Teneo discussed on Techmeme Ride Home

Techmeme Ride Home
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The FTC will crack down on data and on a claims, another smart home company decides to brick some of the hardware that people paid good money for, hoppin is the latest high flyer to fall to earth with layoffs and what it's like to work at Twitter right now. Here's what you missed today in the world of tech. Or as they say in Minecraft. Liquidators say they can't find three arrows capital founders Kyle Davies and ju su and they are seeking to subpoena them to prevent the dissipation of the funds remaining assets. Quoting Bloomberg. Representatives tap to liquidate three arrows by a British Virgin Islands judge, had quote not yet received any meaningful cooperation. From Kyle Davies and ju su, lawyers said in the U.S. bankruptcy court filings, advisory firm teneo is attempting to round up and preserve the assets of the hedge fund. Lawyers for Zhou and Davies told three arrows, liquidators that the two intend to cooperate, a meeting between the liquidators and attorneys is scheduled for Monday, while a court hearing is set for Tuesday. The liquidators, meanwhile, are trying to prevent the potential dissipation of the fund's assets Russell crumpler of teneo said in a sworn declaration, quote here that risk is heightened because a substantial portion of the debtor's assets are comprised of cash and digital assets such as cryptocurrencies and non fungible tokens that are readily transferable. Lawyers for the liquidator said in court papers. Three arrows which Zhou and Davies founded after trading at Credit Suisse group succumbed to the widespread crypto sell off last month and solvency proceedings kicked off in the BVI, and were followed by a so called chapter 15 bankruptcy filing in the U.S.. The fund's downfall has rippled through the digital asset industry, helping to drive at least one crypto platform that counted three arrows as a counterparty into bankruptcy already. The hedge fund's liquidators traveled to three arrows is office address in Singapore in late June in an attempt to track down the founders according to court papers. It appeared dormant. The door was locked. Computers were inactive and male was stuffed under the door. People working in the surrounding offices said they hadn't seen anyone enter or exit the office recently. The liquidators spoke with lawyers for Davies and jus via video conference last week, according to court papers, but did not speak to the founders directly, quote, while persons identifying themselves as su Jo and Kyle were present on the Zoom call. Their video was turned off, and they were on mute at all times, with neither of them speaking despite questions being posed to them directly. Ten years crumpler said in his court declaration, end quote. The

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