Cross-border Ogier team advises joint liquidators appointed over cryptocurrency hedge fund Three Arrows Capital Limited

Ogier has been appointed to advise the joint liquidators of cryptocurrency hedge fund Three Arrows Capital Limited (3AC).

The cross-jurisdictional Ogier team is led by partners Justin Davis and Grant Carroll and assisted by senior associates Sarah Latham and Maria On, associates Ada Chan, Romauld Johnson and James McDermott.

By an order made on 27 June 2022 in the BVI Commercial Court, Mr Justice Jack appointed Russell Crumpler and Christopher Farmer of Teneo (BVI) Limited as joint liquidators over the fund.

Justin Davis and Grant Carroll said: "Until recently, 3AC was one of the most prominent cryptocurrency hedge funds. Their liquidation highlights the extent of the credit crisis currently impacting the digital asset market. However, creditors of 3AC can rest assured that the joint liquidators are working diligently to ensure creditor interests are protected to the greatest extent possible."

The First Creditors Meeting will take place on 18 July 2022, details of which can be found at 3acliquidation.com