Founder of bankrupt 3AC KyleLDavies said he and zhusu are donating 'future earnings' to 3AC creditors in a 'shadow recovery process.' egreechee reports
Davies described the plan as a"shadow recovery process," outside the ongoing liquidation proceedings that are trying to recover value from the bankrupt company and distribute it to creditors. In fact, some early creditors have already been made whole, he said.
The failed hedge fund manager said he and his co-founders believed in"karma" and that any of these extra donations would supplement any recoveries through the formal process. The comments might be taken with a grain of salt by a crypto community and creditors who are still nursing losses from the epic collapse.
"The founders of Three Arrows have willfully ignored multiple requests to assist with this process after initiating the liquidation themselves, and the court records paint a clear picture of the ways in which they have hindered creditor recoveries," Jack Coster, managing director at Teneo, the 3AC liquidator, said in an email to CoinDesk, when asked for a response to Davies's comments.
Davies made the comments after being asked about the optics of him and Su Zhu, the other co-founder, working on a new crypto exchange from the beaches of Bali, while their previous company was undergoing a liquidation process. He said that there is a"connection" between their new venture and creditors, who will in fact benefit from their new enterpreneurial journey.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Swansea: Red Arrows tribute to toddler who died from cancerThe heart-shaped display was dedicated to Morgan Ridler, who died from a rare cancer aged three.
Les mer »
Column: Sorry, founders, we've never been created equalThe nation's founders declared that all men are created equal. It was a noble declaration of principles that had little resemblance to real life.
Les mer »
Letters to the Editor — Three cheers to the Liverpool Legends, Norm Hitzges, Dave Lieber1 The Liverpool Legends — The Beatles still live in the hearts and minds of the ’60s baby boomer generation. Without the use of artificial intelligence, the...
Les mer »
Veteran center Dwight Powell agrees to three-year deal to return to Dallas MavericksDwight Powell will remain the Mavericks’ longest-tenured player after NBA free agency settles. Powell, who has played the last eight-plus seasons in Dallas,...
Les mer »
Three hurt in serious crash near 75th Avenue and Camelback RoadThree people are hurt after a serious crash Saturday morning near 75th Avenue and Camelback Road in Glendale. MORE ⬇️
Les mer »