Three Arrows Capital liquidators seek to preserve hedge fund's Singapore assets - report

Teneo, the British Virgin Islands-based liquidator of Three Arrows Capital, is seeking to preserve the bankrupt crypto hedge fund's assets in Singapore, according to a report by the Strait Times on Friday.The move comes after Three Arrows towards the end of June was ordered to liquidate by a court in the BVI.Court-appointed Teneo has employed WongPartnership, a law firm located in Singapore, to request the High Court for letting Teneo manage Three Arrows' assets in the hedge fund's city-state, the Strait Times reported.If successful, Teneo would be able to subpoena 3AC's founders Su Zhu and Kyle Davies, who have been nowhere to be found since the week ended July 8.Furthermore, if the liquidators can argue that 3AC's meltdown was a result of mismanagement or misconduct of its founders, then the asset seizure may be expedited, the local news outlet noted, citing the lawyers.In mid-June, 3AC explored asset sales after its crypto bets turned sour.