Su Zhu from Three Arrows Capital speaks out after going missing, accuses creditors' lawyers, and refutes claims of non-cooperation.
Su Zhu, the founder of Three Arrows Capital (3AC), tweeted for the first time in nearly a month after his disappearance. Previously, creditors' lawyers filed documents with the US court stating that 3AC was unwilling to cooperate with the liquidation process. In response, Su Zhu also sent a letter through his lawyers to refute the allegations of lack of cooperation.
Sadly, our good faith to cooperate with the Liquidators was met with baiting. Hope that they did exercise good faith wrt the StarkWare token warrants. pic.twitter.com/CF73xI8r6n
— Zhu Su 🔺 (@zhusu) July 12, 2022
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Counterclaim by Creditor's Attorney
The attorney representing Three Arrows Capital sent a letter to the above-mentioned representative of the creditors, stating that the founder of Three Arrows Capital is unwilling to cooperate with the U.S. court as indicated by the Singapore attorney. They questioned whether these discussions were based on bias and also noted that the submission of these documents did not inform the founder of Three Arrows Capital.
"You did not seek to communicate in good faith, but rather intended to do so from the start. This is disappointing, and our client, the founder of Three Arrows Capital, will take action to ensure that such behavior is penalized," stated the attorney representing Three Arrows Capital.
"The submission of your documents has led our client and their family to receive threats to their lives and face a lot of pressure. Please promptly provide us with details of the documents you submitted. Our client hopes to cooperate reasonably with you and provide details of their balance sheet. Our client will decide how to communicate reasonably with you based on your response," the founders of Three Arrows Capital seem to be troubled and under pressure due to this document, not understanding its actual contents. They hope to continue cooperating with the liquidation process in good faith communication with the creditors.
Counterclaim against Creditor's Liquidation Procedure
In another letter, the attorney representing Three Arrows Capital stated that the creditors' liquidation actions regarding the StareWare token warrants have harmed the interests of Three Arrows Capital.
The attorney expressed SuZhu's deep concerns about the potential failure of the liquidation of the StareWare token warrants, and the oversight of the creditors could lead to losses for Three Arrows Capital. The attorney also requested an immediate response from the creditors, inquiring about when the liquidators became aware of the exercise of StareWare warrants, how they determined their value, and the execution timeline.