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The company’s liquidator Teneo confirmed the court’s decision, stating that assets had been seized from the founders and Kelly Chen in line with allegations that they were responsible for a depreciation in the value of Three Arrows Capital’s position.

In a statement by Teneo, it was stated that “The IBW Court issued a worldwide freezing order in line with the claims pursued by the liquidators, arguing that the founders should be held responsible for a depreciation equal to the value of 3AC’s position. The freezing of orders is requested”.

Following this development, it is stated that a similar decision was also taken by the court in Singapore. Also, the decision to seize $1 billion in assets belonging to the founders of Three Arrows Capital has caused a great stir in the financial world and the details of the incident are eagerly awaited.

The post Three Arrows Capital Founders’ Assets Frozen by Court! appeared first on Coin Engineer.