In the $140 million dispute between DeFiance Capital and now-defunct crypto hedge fund Three Arrows Capital, a Singapore judge said in a Jan. 26 ruling that DeFiance Capital has reasonably demonstrated there is a Singapore-based trust protecting its assets, which could save it it from 3AC liquidators.
The argument could help sway the case in DeFiance Capital’s direction as the investment firm disputes that their shareholders have a legal obligation to make 3AC creditors whole, according to former restructuring attorney, who goes by the online name of WassieLawyer. Wsssie said he is working with DeFiance Capital founder Arthur Cheong on the case.
The collapse of the $10B 3AC hedge fund responsible for the “Super Cycle” thesis, arguing that crypto prices would only go up, produced large collateral damage in crypto. DeFiance Capital was one victim of the fallout and this ruling puts the firm one step closer to resolving the issue.
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#undefined [Source: TheDefiant]