\n<\/p>\n
According to a document seen by Bloomberg, Zhu delivered<\/a> the affidavit in person on Aug. 19. In it, Zhu states that Teneo \u201chad not provided an entirely complete or accurate version of events\u201d to the Singapore court, which granted Teneo\u2019s request<\/a> for access to 3AC records in Singapore on Aug. 22. <\/p>\n Teneo, an advisory firm, was appointed in June to liquidate 3AC assets by a court in the British Virgin Islands, where Singapore-based 3AC had moved its registration. The fund had also announced its intention to move its headquarters to Dubai. <\/p>\n According to the affidavit, Teneo misrepresented the operations and relationships between 3AC-related entities, as well as the timeline of events. Zhu stated that Three Arrows Capital Pte Ltd (TACPL) was registered in Singapore until July 31, 2021. It was replaced on Sept. 1 of that year by ThreeAC Ltd in the British Virgin Islands as the manager of the master fund and two feeder funds \u2014 Three Arrows Fund Ltd, which was registered in the British Virgin Islands, and Three Arrows Fund LP, registered in the U.S. state of Delaware. <\/p>\n Related: Celsius, 3AC demonstrated why more financial activity needs to be on-chain<\/a><\/em><\/strong><\/p>\n Because of this structure, TACPL may not be able to comply with Teneo\u2019s requests for information, Zhu stated, and that could lead to \u201cpotentially draconian consequences arising from the Liquidators\u2019 exercise of their wide powers,\u201d up to fines and the imprisonment of TACPL officers and representatives for contempt of court. <\/p>\n Teneo responded in a statement to Zhu\u2019s affidavit saying, \u201cThe joint liquidators strongly disagree with the positions set out in Su Zhu\u2019s affidavit. [\u2026] We remain optimistic that such parties will provide access to complete records and all relevant information to enable us to discharge our responsibilities fully in the interests of the creditors of 3AC.\u201d<\/p>\n