The cited record supports the material proposition.
A 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.
- Claim made by
- US Bankruptcy Court for the Southern District of New York, court filing
- Published
- 29 December 2022
- Evidence score
- 90 How it was scored
- Last reviewed
- 25 October 2026
Why this label
The opinion by Chief Judge Martin Glenn records that the debtor commenced a liquidation on 27 June 2022 and that the BVI court appointed the foreign representatives as joint liquidatorsS3. It refers to the order granting recognition of the BVI proceeding as a foreign main proceeding in the US Chapter 15 caseS3. The same opinion granted the liquidators' motion to serve a subpoena on Kyle Davies for discoveryS3. These are court records of the liquidation and the US recognition. The claim matches the record. The liquidation is still open, with recovery and claim work running into 2025S6S7.
Current procedural position
Liquidation order made in the British Virgin Islands on 27 June 2022S3. Recognised as a foreign main proceeding in the US Chapter 15 case, SDNY No. 22-10920S3. Liquidation ongoing as of October 2026S7.
Record supporting the assessment
On June 27, 2022, the Debtor commenced a liquidation
The BVI Court appointed the Foreign Representatives as joint liquidators of the Debtor.
including recognition of the BVI Proceeding as a foreign main proceeding
Conflicting or limiting record
No record located that conflicts with this assessment.
Evidence score: 90 of 100
The score grades how well the record establishes this assessment. It is not a score of Three Arrows Capital Ltd. Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.
| Component | Points | Max | Reason |
|---|---|---|---|
| Source authorityIs the source competent to establish the proposition? | 28 | 30 | A US bankruptcy court opinion recording the BVI order and the recognition. |
| DirectnessDoes the source state the proposition or only discuss adjacent facts? | 18 | 20 | The opinion states the liquidation date, the liquidators and the recognition. |
| CorroborationDo independent records support the same material point? | 13 | 15 | Press coverage and Teneo creditor reports agree the fund is in liquidationS6. |
| Procedural accuracyDoes the record settle the procedural state the claim describes? | 13 | 15 | A liquidation order and a recognition order, the liquidation itself not yet closed. |
| CurrencyHas the record been checked against later developments? | 9 | 10 | Checked against 2023 recovery estimates and the 2025 FTX claim ruling. |
| ReproducibilityCan a reader locate the passage and repeat the assessment? | 9 | 10 | The opinion PDF is public on the court website. |
| Total | 90 | 100 |
Timeline
Related cases
- In the matter of Three Arrows Capital LtdEastern Caribbean Supreme Court, British Virgin Islands. Insolvency. Not published.Stage: Liquidation ongoing, joint liquidators from Teneo appointed, asset recovery and creditor claims continuing.
- Court orders the fund into liquidation and appoints joint liquidatorsS3
- In re Three Arrows Capital, Ltd.US Bankruptcy Court for the Southern District of New York. Insolvency. 22-10920 (MG).Stage: BVI liquidation recognised as a foreign main proceeding, discovery and asset location continuing.
Revision history
- Assessment first published with label Supported.
Have a record that changes this assessment? See corrections and responses.
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.
- S7Tier C US court allows 3AC to expand FTX claim to $1.5 billionThe Block (Danny Park). Press report. 14 March 2025.Supports the March 2025 ruling letting 3AC expand its FTX claim to US$1.53 billion and FTX's objection. Shows the liquidation is still active.
Other claims about Three Arrows Capital Ltd
- Supported93The Monetary Authority of Singapore said it issued nine-year prohibition orders against Three Arrows Capital directors Zhu Su and Kyle Livingston Davies that took effect on 13 September 2023.Regulator statement, 14 September 20233 records citedMarket conduct
- Supported91The Monetary Authority of Singapore said it reprimanded Three Arrows Capital Pte. Ltd. in June 2022 for providing false information to MAS and for exceeding the assets under management threshold for a registered fund management company.Regulator statement, 30 June 20223 records citedDisclosure
- Supported75Liquidator Teneo said a Singapore court sentenced co-founder Su Zhu to four months in prison for failing to comply with a court order to help the investigation into the fund's failure.Press report, 30 September 20232 records citedCorporate status