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 proceedings for Three Arrows Capital (3AC) creditors. By asserting his status as a Singaporean citizen, Davies may attempt to evade legal responsibilities tied to the bankruptcy case. This move raises questions about accountability and transparency in the crypto industry, especially for those affected by the 3AC collapse.

How does Kyle Davies' claim of renouncing US citizenship affect the ongoing bankruptcy case of 3AC?

Kyle Davies' claim of renouncing his US citizenship directly impacts the bankruptcy case by challenging the court's authority over him. His filing suggests that he believes he should not be subject to US laws or court orders, which could lead to further legal disputes. If the court accepts his argument, it may hinder efforts to hold him accountable for 3AC's debts and obligations.

What documentation did Kyle Davies provide to support his claim of renouncing US citizenship in relation to the 3AC bankruptcy?

Kyle Davies submitted notarized and Apostilled copies of the form he filed to renounce his US citizenship, dated December 15, 2020. This documentation was included in his August 1 filing with the U.S. Bankruptcy Court for the Southern District of New York. The authenticity and timing of these documents will likely be scrutinized as they play a crucial role in determining his legal standing in the bankruptcy proceedings.

Why were Kyle Davies and Su Zhu subpoenaed in relation to the 3AC bankruptcy case?

Kyle Davies and Su Zhu were subpoenaed due to their unknown physical locations following the bankruptcy filing for 3AC in July 2022. The court sought to compel their testimony regarding the company's financial dealings and obligations to creditors. Their failure to comply with the subpoena has led to arguments that Davies should be held in contempt of court, further complicating the legal landscape surrounding 3AC.

What are the potential consequences for Kyle Davies if he is found in contempt of court regarding the 3AC bankruptcy?

If Kyle Davies is found in contempt of court, he could face significant legal repercussions, including fines or even imprisonment. This finding would underscore the court's authority and could compel him to comply with legal orders related to the bankruptcy case. Additionally, it may negatively impact his reputation and future endeavors within the crypto industry, where trust and accountability are paramount.