3AC's Kyle Davies claims creditors 'frustrated' with bankruptcy process

Quick Take

  • Kyle Davies, the co-founder of bankrupt crypto hedge fund Three Arrows Capital, said creditors were “frustrated.”
  • Costs are too high and creditor disputes are creating delays, Davies said.

Three Arrows Capital's co-founder Kyle Davies claimed that the firm's creditors are "frustrated" with the ongoing bankruptcy process.

They complained about high costs, delays due to inter-creditor disputes and how the estate is being valued during an hoc meeting Wednesday, Davies said on Twitter.

"We believe the best way forward is to reduce the ongoing legal costs, pursue claims on a contingency basis against Luna consortium/FTX/Genesis, and organize better ways to deal with asset sales/distributions," he wrote.

The crypto hedge fund once had significant investments across the market,