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

The rejection of the bankruptcy court's jurisdiction by Kyle Davies could complicate the legal proceedings surrounding Three Arrows Capital's bankruptcy. By asserting his status as a Singapore citizen, Davies may be attempting to evade U.S. legal obligations, which could lead to further legal challenges. This situation raises questions about the enforceability of court orders against individuals who claim foreign citizenship, especially in complex financial cases like this one.

How did Kyle Davies provide evidence for his claim of renouncing US citizenship in the bankruptcy court?

Kyle Davies submitted notarized and Apostilled documents to the U.S. Bankruptcy Court for the Southern District of New York as proof of his renunciation of U.S. citizenship. These documents included a formal application dated December 15, 2020, which he claims establishes his current status as a citizen of Singapore.

What actions have been taken against the 3AC co-founder for ignoring subpoenas related to the bankruptcy case?

After Kyle Davies and fellow co-founder Su Zhu were subpoenaed on Twitter due to their unknown physical locations, there have been calls for Davies to be held in contempt of court. His failure to comply with the subpoena raises serious concerns about accountability and transparency in the ongoing bankruptcy proceedings. The court may consider these actions when determining how to proceed with enforcing its orders against him.

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

The whereabouts of Kyle Davies and Su Zhu are significant because their physical absence complicates the bankruptcy proceedings and raises questions about their accountability to creditors. Speculation about their location has fueled discussions among crypto users affected by the market crash, highlighting concerns over transparency in the handling of 3AC's assets. Their ability to evade legal processes could set a concerning precedent for future bankruptcy cases in the cryptocurrency sector.