The Block10 minutes ago

Published on August 15, 2023 10:05 GMT+00:00edited on August 15, 2023 10:09 GMT+00:00

A $140 million dispute between DeFiance Capital and Teneo, the liquidators for the Three Arrows Capital estate, will be heard in Singapore — against the liquidators’ wishes.

The dispute is over the assets that were managed by DeFiance Capital, a fund that was run independently from 3AC but part of its corporate structure. The liquidators claim the funds should be held as part of the 3AC estate and distributed to creditors, while DeFiance Capital claims the funds should be treated separately and returned to its own investors, according to court documents seen by The Block. 

While the liquidators denied that the case should be held at all — calling it a clear afterthought — they said that any trial should take place in the British Virgin Islands, where the fund structure was based. …