Three Arrows Capital files for Chapter 15 bankruptcy in New York

Quick Take

  • Crypto hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy in a New York court.
  • In the filing, the firm’s legal representatives wrote that “the Debtor faces litigation and other demands on payment that it cannot meet, and the Debtor is at significant risk of the diminution in value of its assets without immediate relief imposing a stay of actions by creditors.”

Crypto hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy in a New York court.

The petition was submitted to the US Bankruptcy Court for the Southern District of New York.

The Friday development comes amid escalating financial problems for the crypto hedge fund. In recent days, a court in the British Virgin Islands appointed advisory firm Teneo to handle liquidation. Financial regulators issued a stern rebuke of the firm on Thursday.

The firm, according to court