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Jul 18, 2022
by Usha Yadav
Zhu Su, Among Creditors, Files $5M Claim Against Own Company
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The co-founder of the bungled crypto lending firm Three Arrows Capital (3AC), Zhu Su, has filed a claim of $5M against their own company. Three Arrows Capital, known as 3AC, filed for bankruptcy during this lousy market.
ThreeAC Limited Submitted $25 Million Claim
The Fund's investment manager, ThreeAC Limited, has also submitted a $25 million claim. As a result, the Fund would rank among the biggest 3AC creditors. The companies on the list were BitGo, Voyager, Algorand, DeFiance, Celsius, BlockFi, SBI Crypto, Moonbeam Network, and Voyager.
These claims against 3AC totaled $2.8 billion in total. There was still more to come, so this wasn't all. It should be noted that today's meeting of the 3AC creditors is set to cover the procedures. The conference would be supervised by Teneo Restructuring, a company chosen by the British Virgin Islands court. According to Soldman Gachs, Zhu Su is one of the creditors. Thus there was a good chance he would attend the meeting.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.