Insolvency case
In the matter of Three Arrows Capital Ltd
- Authority
- Eastern Caribbean Supreme Court, British Virgin Islands
- Case number
- Not published
- Filed or opened
- 27 June 2022
- Organization
- Three Arrows Capital Ltd
- Current stage
- Liquidation ongoing, joint liquidators from Teneo appointed, asset recovery and creditor claims continuing.
- Outcome
- Pending. Creditor recovery estimated at about 46 per cent in December 2023S6.
Decisions and steps
- Court orders the fund into liquidation and appoints joint liquidatorsS3
Claims this case bears on
- Supported90A US bankruptcy court opinion recorded that the British Virgin Islands court ordered Three Arrows Capital into liquidation on 27 June 2022 and appointed joint liquidators, and that the US court recognised the BVI proceeding as a foreign main proceeding.Court filing, 29 December 20223 records citedCorporate status
Sources
- S3Tier A In re Three Arrows Capital, Ltd., Memorandum Opinion and Order (Case No. 22-10920)US Bankruptcy Court for the Southern District of New York (Chief Judge Martin Glenn). Court judgment. 29 December 2022.Supports the 27 June 2022 BVI liquidation, the joint liquidator appointment, the foreign main proceeding recognition and the subpoena on Kyle Davies.
- S6Tier C 3AC liquidators estimate 46% recovery rate for creditors: Teneo reportThe Block (James Hunt). Press report. 21 December 2023.Supports the December 2023 recovery estimate of about 46 per cent and the claims figures reported by Teneo. Press summary of a creditor report.