Legal counsel said the firms. founders receive death threats
The founder of 3AC, Su Zhu, opened up and broke a month-long silence to post screenshots that featured an email from Advocatus Legal LLP which is the firm acting on behalf of the company. The email was sent to the liquidators of the firm on behalf of 3AC.
Russel Crumpler and Christopher Farmer were the two individuals appointed by the British Virgin Islands court to serve as the liquidators of 3AC. The email that has been made public by Su Zhu accuses the liquidators of “baiting” both Su and 3AC co-founder Kyle Davies.
The company filed for Chapter 15 bankruptcy protection after the fall of Voyager which had loans that were unpaid to 3AC to the tune of $646 million.
”Chapter 15 bankruptcy fosters cooperation among U.S. courts, appointed representatives, and foreign courts in bankruptcy cases filed outside the U.S it is meant to lessen the risk for stakeholders and creditors of foreign companies.”(Investopedia 2022).
During their report made on the 8th of July Crumpler and Farmer reported that the founders of 3AC were yet to meaningfully cooperate with the liquidation. The filing stated that the two co-founders had gone missing and were unable to be located, thus calling them a “heightened risk” stating that the two could possibly transfer the assets of the firm to outside accounts.
The letter sent by Advocatus questioned whether the liquidators ever made mention of the death threats the two founders received. The threats of physical violence were allegedly made not only toward the two cofounders but towards their families as well. The letter went on to state time pressure and queries from the Monetary Authority of Singapore as well. Finally, the letter stated that there would be no phone calls and stated that any further correspondence would depend on the attitude of the liquidators.