Singapore Supreme Court approves review of Three Arrows Capital funds

Фирма-ликвидатор Teneo получила одобрение на ревизию фондов 3AC

  • Teneo’s liquidating firm has been approved for an audit of 3AC funds
  • The company seeks to compile an accurate list of the organization’s assets

  • On Monday, 08 August, the Supreme Court of Singapore granted the petition of the liquidators of Three Arrows Capital on the audit of the assets of the organization. This will give auditors access to all of the company’s local records, as well as an accurate picture of its assets.

    This is reported by Bloomberg, citing an anonymous source. Note that the petition was filed by Teneo. She was appointed liquidator of the scandalous fund in June.

    Teneo aims to keep Three Arrows Capital’s assets as well as an accurate inventory of them. The situation is complicated by the fact that 3AC is reluctant to cooperate, which creates additional risks of losing non-share capital.

    Recognition of the liquidation process by the Supreme Court of Singapore can “freeze the hands” of Teneo auditors. 3AC is now required to provide all required reporting.

    Prior to this, there was no legal basis for this. The source of the portal states that Teneo will start a global audit in the near future. The company strives to compile an accurate list of the fund’s assets.

    Recall that only Zhu Su, the head of the bankrupt fund, owns two luxurious mansions in Singapore. At the same time, he remained silent for a long time, not responding to requests from the press and the authorities.

    Related Articles

    Back to top button