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The liquidators of the bankrupt cryptocurrency hedge fund Three Arrows Capital have received permission to sell the identified property.
Last Friday in court on cases ofbankruptcy of the Southern District of New York, representatives of Teneo, the official liquidator of Three Arrows Capita (TAC), said that they began to take control of TAC's assets and property.
The liquidators added that they had already returned about $3million during the forced return of investments and the sale of an NFT collection, and also confiscated over $35 million in cash held by the bankrupt company in Singaporean banks.
In addition, the liquidation commission managed to obtain court permission to sell the yacht “Much Wow” owned by TAC and add more than $30 million to the bankruptcy estate.
As a reminder, TAC has filed an emergency application forbankruptcy in July, after which a New York federal court froze all of the fund's assets, and a court in the British Virgin Islands ordered liquidation.
In October, Bloomberg reported that the Commodity Futures Trading Commission (CFTC) and the US Securities and Exchange Commission (SEC) had launched a joint investigation into Three Arrows Capital.
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