Kyle Davies, the co-founder of bankrupt hedge fund Three Arrows Capital (3AC), disclosed in a Twitter thread that the primary assembly of 3AC collectors was held on Jan. 11. Davies invited all collectors to affix the group and introduced that it could meet repeatedly.
In line with Davies, collectors proceed to precise frustration with the continued prices and dealing with of property within the chapter course of, suggesting that, “inter creditor disputes are delaying the method, and the property worth just isn’t being maximized.”
Immediately we held an advert hoc 3AC creditor assembly. All collectors are open to affix and this will likely be a daily assembly.
Right here is an summary of the factors mentioned:
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— Kyle Davies (@KyleLDavies) January 11, 2023
The group mentioned a number of subjects, together with methods to cut back “ongoing authorized prices, pursue claims on a contingency foundation towards Luna consortium/FTX/Genesis, and arrange higher methods to take care of asset gross sales/distributions.”
This can be a creating story, and additional data will likely be added because it turns into obtainable.
