Statement from ex-Three Arrows director: DC and SNC should be treated as separate funds and retain investor ownership of their assets

Odaily Planet Daily News Three Arrows Capital founder Zhu Su issued a statement from the former director of Three Arrows Capital Ltd on Twitter: “We understand that the DeFiance Capital (DC) and Starry Night Capital (SNC) funds have been managed separately from the other pools of Three Arrows Capital Ltd (TACL). Procedurally and practically, we believe that DC and SNC should be considered Separate funds because we did not actively manage the DC and SNC funds when we were directors of TACL. As TACL's current provisional liquidator, we believe that Teneo has repeatedly overstepped its authority in attempting to seize other investors' funds. Even though DC and SNC’s assets rightfully belong to TACL’s investor funds from a technical and legal standpoint, these funds are in liquidation and Interpath has been appointed to manage the process. We expect investors in DeFiance Capital and Starry Night Capital to retain ownership of their respective assets in due course of law. "