A federal judge overseeing the bankruptcy proceedings of Three Arrows Capital (3AC) has signed an order approving the summons to former 3AC leaders. Including co-founders Su Zhu and Kyle Davies.
The subpoena requires the founders to turn over any “recorded information, including books, documents, records, and papers” in their custody related to the property or financial affairs of the company.
The notorious hedge fund, valued at $10 billion at its peak, filed for Chapter 15 bankruptcy on July 1, with its problems tied to excessive leverage and the collapse of Terra Luna (LUNA). ), now known as Terra Classic (LUNC), and its algorithmic stablecoin formerly known as TerraUSD (UST).