Su Zhu and Kyle Davies Faces $1.14 Billion Assets Freezing

Reported by Bloomberg, a court in the British Virgin Islands has banned 3AC co-founders Su Zhu and Kyle Davies from transferring or selling assets worth up to $1.14 billion. It is estimated that 3AC creditors are owed roughly $3.3 billion after the hedge fund collapsed in 2022.

According to 3AC's liquidator Teneo, the two founders are held liable for causing 3AC's position to deteriorate by an amount that is equivalent to the value of the freezing orders sought. Also, the two founders are subject to a domestic freezing order from the Singapore Court.

Both Zhu and Davies were banned from regulated activities in Singapore for nine years by the local central bank.