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Su Zhu, a co-founder of <a href="https://www.coingabbar.com/en/crypto-blogs-english/three-arrows-capital-collapse" rel="noopener noreferrer nofollow">Three Arrows Capital</a>, thinks that Teneo, the court-appointed administrator, deceived the Singapore High Court in order to obtain authorization for the liquidation of Three Arrows&#39; Singaporean assets. Su Zhu asserted Three Arrows Capital Pte Ltd (TACPL) was established in Singapore until July 31, 2021 in an affidavit she filed in Bangkok, Thailand.Additionally, Three Arrows Fund Ltd (TAFL) in the British Virgin Islands and Three Arrows Fund LP (TAFLP) in the U.S. state of Delaware no longer have TACPL serving as its investment manager. Therefore, Teneo, the liquidator, is not required to sell the assets of TACPL.Su Zhu of Three Arrows contests liquidation in SingaporeSu Zhu and Kyle Davies, the founders of Three Arrows Capital, had previously declared moving to Dubai; their present whereabouts are unclear. Su Zhu, however, filed an affidavit on August 19 in Bangkok, Thailand questioning the legitimacy of liquidator Teneo&#39;s right to sell off assets in Singapore. A petition to seize and liquidate Three Arrows Capital assets in Singapore was granted earlier this week by the Singapore High Court on behalf of Teneo, a British Virgin Islands court-appointed liquidator.Su Zhu, however, charged Teneo of using false information to get the liquidation order in Singapore. According to him, Three Arrows Capital Pte Ltd (TACPL), a Singaporean company, was registered there until July 31, 2021. Additionally, the TACPL stopped managing investments for feeder hedge funds. Two feeder funds are located in the US state of Delaware and the British Virgin Islands, respectively: Three Arrows Fund Ltd (TAFL) and Three Arrows Fund LP (TAFLP). Since August 2021, ThreeAC Ltd has managed investments for the master and feeder funds after the hedge fund changed its registration from the Cayman Islands to the British Virgin Islands.TACPL might not abide by the investigation and liquidation ordered by Teneo, a liquidator appointed by a British Virgin Islands court. Su Zhu believes that TACPL, its management, and its workers may be found in contempt of court and subject to fines and jail time.Singapore&#39;s MAS Increases Inspection of Crypto-Related CompaniesThe Monetary Authority of Singapore (MAS) is stepping up its control over cryptocurrency-related operations there. Firms involved in the crypto industry have been asked by the MAS to reveal their operations and assets.<a href="https://www.coingabbar.com/en/trending-crypto-currency" rel="noopener noreferrer nofollow">Top tokens possessed, top lending and borrowing counterparties</a>, loan amount, and top tokens staked via decentralized-finance protocols are all included in the data. Additionally, it asks exchanges for information about the token listing procedure and steps to reduce investor risks. The action coincides with the MAS&#39;s plans to extend the scope of its laws to more crypto-related activities.After the failure of several cryptocurrency companies with Singaporean registrations, including Three Arrows Capital, Singapore has maintained a hard attitude. Despite the difficulty, Three Arrows Capital might come under regulatory pressure to sell the Singaporean holdings.

In Singapore, Three Arrows Capital opposes liquidation as MAS tightens oversight

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