A British Virgin Islands court has ordered the liquidation of hedge fund Three Arrows Capital (3AC), Sky News has reported.
According to sources, the partners of consulting company Teneo Restructuring were involved in the consideration of the insolvency case of the organization. 3AC has not yet made any comment on the information.
Three Arrows Capital, Ltd is registered in the Virgin Islands, whereas the company’s headquarters are in Singapore.
3AC co-founder Su Zhu announced last month the foundation plans to move its headquarters to Dubai because there is more favorable regulatory environment there.
However, a DFSA spokesman has said this month that the hedge fund did not have a license to operate in the emirate.