A court in the British Virgin Islands has blocked access to assets worth up to $1.1 billion belonging to Su Zhu, Kyle Davies, and Davies’ wife, Kelly Chen, as reported by Bloomberg.
They are the founders of the now-closed cryptocurrency hedge fund, Three Arrows Capital. The court-issued order stops them from using or moving their assets globally.
This action follows claims by the fund’s liquidators that the founders may have caused significant financial harm to the company. Additionally, a court in Singapore has issued a similar order to freeze assets within the country.
The BVI court issued an order following Zhu’s arrest at Singapore’s Changi airport in September as he attempted to leave the country.
Recently, Zhu was questioned in a Singapore court in response to Teneo, the liquidator for 3AC, who is trying to recover $3.5 billion owed to creditors.
