3AC co-founder rejects jurisdiction of bankruptcy court, claiming he renounced US citizenship

Kyle Davies, the co-founder of bankrupt crypto hedge fund Three Arrows Capital (3AC), has submitted documentation to court declaring he is totally a person of Singapore and not the United States.In an Aug. 1 filing with U.S. Bankruptcy Court for the Southern District of New York, Davies provided notarized and Apostilled copies of the type applying for the renunciation of his U.S. citizenship on Dec. 15, 2020. Both Davies and 3AC co-founder Su Zhu were subpoenaed on Twitter– now X– in January due to their physical location being unknown, however parties have argued Davies must be held in contempt of court after he neglected the order.” Related: Kyle Davies to contribute future OPNX incomes to 3AC creditors for karmaThe location of both Zhu and Davies following the personal bankruptcy filing for 3AC in July 2022 has been the topic of mass speculation and argument amongst crypto users impacted by the market crash.

Kyle Davies, the co-founder of bankrupt crypto hedge fund Three Arrows Capital (3AC), has submitted documents to court declaring he is fully a citizen of Singapore and not the United States.In an Aug. 1 filing with U.S. Bankruptcy Court for the Southern District of New York, Davies supplied notarized and Apostilled copies of the form applying for the renunciation of his U.S. citizenship on Dec. 15, 2020. Both Davies and 3AC co-founder Su Zhu were subpoenaed on Twitter– now X– in January due to their physical location being unknown, however celebrations have actually argued Davies must be held in contempt of court after he disregarded the order.” Related: Kyle Davies to contribute future OPNX incomes to 3AC lenders for karmaThe whereabouts of both Zhu and Davies following the bankruptcy filing for 3AC in July 2022 has been the subject of mass speculation and argument amongst crypto users affected by the market crash.

Other Questions People Ask

What are the implications of 3AC co-founder rejecting the jurisdiction of the bankruptcy court by claiming he renounced US citizenship?

Kyle Davies' rejection of the bankruptcy court's jurisdiction raises significant legal questions regarding his accountability in the ongoing proceedings. By asserting his status as a Singapore citizen, he may be attempting to evade U.S. legal obligations, which could lead to further complications in the bankruptcy case. This situation could also influence how creditors pursue claims against him and 3AC, potentially affecting their recovery efforts.

How does Kyle Davies' renunciation of US citizenship impact the bankruptcy proceedings of Three Arrows Capital?

Davies' claim of renouncing his U.S. citizenship may complicate the bankruptcy proceedings for Three Arrows Capital, as it challenges the court's authority over him. If the court accepts his argument, it could limit its ability to enforce subpoenas or hold him in contempt for non-compliance. This situation underscores the complexities involved in international law and bankruptcy, particularly in cases involving cryptocurrency firms.

What documentation did Kyle Davies provide to support his claim of renouncing US citizenship in relation to the bankruptcy court?

In his filing with the U.S. Bankruptcy Court for the Southern District of New York, Kyle Davies submitted notarized and Apostilled copies of the form he used to renounce his U.S. citizenship on December 15, 2020. This documentation is crucial as it serves as evidence of his claim to be a citizen of Singapore, which he argues should exempt him from U.S.

What actions have been taken against Kyle Davies for not complying with the bankruptcy court's orders?

Following his failure to comply with a subpoena issued by the bankruptcy court, there have been discussions about holding Kyle Davies in contempt of court. His non-compliance has raised concerns among creditors and legal experts regarding accountability and transparency in the bankruptcy proceedings. The court's response to this situation could set a precedent for how similar cases are handled in the future.

Why is the location of 3AC co-founders Kyle Davies and Su Zhu significant in the context of their bankruptcy case?

The physical location of Kyle Davies and Su Zhu is significant because it affects their ability to be served legal documents and comply with court orders. Their whereabouts have been unknown since the bankruptcy filing in July 2022, leading to speculation and concern among creditors. This uncertainty complicates the legal process and raises questions about their intentions regarding the bankruptcy proceedings and their responsibilities to creditors.