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

A decide within the chapter case of defunct crypto hedge fund Three Arrows Capital (3AC) has denied a movement that might have held co-founder Kyle Davies in contempt of court docket 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 by way of X — previously Twitter — had been thought-about with out the data the 3AC co-founder was a non-U.S. citizen residing outdoors the nation. He cited federal legal guidelines for compelling compliance outdoors the U.S., including that his approval of motions beginning in December 2022 “presumed primarily based on the document at the moment that Mr. Davies was a United States citizen.”

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