Three Arrows Capital founder Zhu Su faces asset freeze worth $1.1 billion.

In a series of dramatic events, Zhu Su and Kyle Davies, founders of Three Arrows Capital (3AC), along with Davies' wife Kelly Chen, had their astonishing $1.1 billion worth of assets frozen under a global freezing order. This landmark decision was made on Monday, December 18th by the British Virgin Islands court. [Source](https://www.businesstimes.com.sg/startups-tech/startups/three-arrows-founders-global-assets-worth-us11-billion-frozen)

Singapore Joins Freezing Actions

The Singapore court also took action on Wednesday. They issued a domestic freezing order, in coordination with the decision in the British Virgin Islands. This ensures that the assets of the three individuals in Singapore are also subject to the same strict restrictions.

Objective to Protect Creditors

Teneo, the leading financial advisory firm behind the action, stated that the main objective of these freezing orders is clear: to prevent any potential hindrance to asset disposal or mishandling and maximize returns to creditors. Russell Crumpler and Christopher Farmer, directors of the company, have been appointed as liquidators by the British Virgin Islands court since 2022.

Zhu Su Recently Released from Prison

This order coincides with the recent release of Zhu Su from prison. Zhu Su was arrested on September 29 for non-compliance with court orders related to the liquidation process.

Co-founder of Three Arrows Capital, Su Zhu, arrested at Changi Airport, sentenced to four months of imprisonment

Three Arrows Capital Faces Staggering Debt

While the freezing order is a significant development, it is only a part of a larger puzzle. In the liquidation process, the amount claimed by creditors of Three Arrows Capital exceeds $3 billion, highlighting the scale of this financial disaster.

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