3AC co-founder avoids contempt costs following proof of Singaporean citizenship

A choose within the chapter case of defunct crypto hedge fund Three Arrows Capital (3AC) has denied a movement that will have held co-founder Kyle Davies in contempt of courtroom and imposed sanctions.

In an Aug. 11 submitting with america Chapter Courtroom for the Southern District of New York, Choose Martin Glenn stated rulings on motions relating to a subpoena issued to Davies through X — previously Twitter — had been thought-about with out the information the 3AC co-founder was a non-U.S. citizen residing exterior the nation. He cited federal legal guidelines for compelling compliance exterior the U.S., including that his approval of motions beginning in December 2022 “presumed primarily based on the report at the moment that Mr. Davies was a United States citizen.”

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