Troubled crypto hedge fund Three Arrows Capital was ordered into liquidation by a court in the British Virgin Islands, according to a person familiar with the matter.
The court, which made the order on Monday, has appointed two partners at consulting and advisory firm Teneo, to handle Three Arrows’s liquidation, said the person, who declined to be identified because the information is confidential.
A website will be set up to collect information from creditors on debts owed by the fund. After that, Teneo will oversee the distribution process, including talks with potential buyers that may be interested in Three Arrows’s remaining holdings, such as tokens or equity stakes in crypto startups, the person added.
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