The U.S. judge overseeing Three Arrows Capital’s bankruptcy proceedings has again ordered co-founder Kyle Davies to turn over financial documents.

After filing an opinion on the matter last week, U.S. Judge Martin Glenn signed what’s now the second order giving Davies fourteen days to turn over financial records related to his insolvent crypto hedge fund or be held in contempt. That means his new deadline to cooperate with the liquidators is April 13. The last deadline was March 16.

This is not the first time the liquidators have accused Davies of “withholding information.” They filed a similar motion to compel his cooperation in February, saying he had been “shamelessly” raising millions to launch a new company.

The Singapore-based firm, which also goes by the name 3AC, was ordered to liquidate in June, following weeks of speculation that the company had endured severe losses following the collapse of the TerraUSD algorithmic stablecoin in May.

In an interview with The Wall Street Journal, Davies confirmed that 3AC had lost approximately $200 million on its TerraUSD position. Pressure mounted as creditors margin called 3AC, meaning they asked the firm to provide

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Author: Stacy Elliott

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