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Five Member Committee Formed for Three Arrows Capital's Liquidation
Summary: According to sources cited by The Block, a five-member committee of creditors has been appointed by Teneo, the law firm handling 3AC's liquidation. The five members were chosen by creditors' vote, with voting power based on their claim size, and the following ultimately won: DCG, Blockchain.com, Voyager Digital, CoinList, and Matrixport. Teneo declined to make ...
According to sources cited by The Block, a five-member committee of creditors has been appointed by Teneo, the law firm handling 3AC's liquidation. The five members were chosen by creditors' vote, with voting power based on their claim size, and the following ultimately won: DCG, Blockchain.com, Voyager Digital, CoinList, and Matrixport.
Teneo declined to make any comments when asked about the committee being formed.
Three Arrows Capital was one of the most prominent hedge funds in the crypto industry until Terra Luna (a major cryptocurrency project that collapsed in May), brought a substantial financial loss. A court from the British Virgin Islands has appointed advisory firm Teneo to handle 3AC's liquidation, and they filed for Chapter 15 bankruptcy in New York earlier last week. As reported by The Block, Three Arrows Capital owns $3.5 billion to a total of 27 creditors, with Genesis Asia Pacific Pte Ltd as the biggest creditor ($2.3 billion). All five members of the newly formed creditors committee have declined to comment on the issue.
Author: Garrett Meifert
Tags: 3 Arrows Capital,3AC,Blockchain.com,CoinList,DCG,Genesis,Voyager Digital
Link: Five Member Committee Formed for Three Arrows Capital's Liquidation [Copy]
