online subpoena

3AC founder has ‘chosen to ignore his duties’ by not responding to subpoena, say bankruptcy lawyers

Three Arrows Capital founder Kyle Davies has not responded to a subpoena issued over Twitter aiming to gather information related to the firm’s assets.

In a Feb. 7 filing with United States Bankruptcy Court in the Southern District of New York, lawyers with the Latham & Watkins firm representing 3AC liquidators said Davies had “chosen to ignore his duties to Three Arrows” by failing to comply with the online subpoena.

Courts in Singapore and the U.S. previously authorized the use of Twitter to issue subpoenas, due to the whereabouts of 3AC founders Davies and Su Zhu being unconfirmed while their social media presence remained active.

The subpoena, which was tweeted to a newly created account on Jan. 5, ordered Davies to provide the 3AC liquidators with documents related to accessing account information, including seed phrases and private keys. In addition, the court told the 3AC founder to include details on accounts at centralized or decentralized exchanges and other assets.

“Under the terms of the Subpoena Order and the Subpoena, Mr. Davies was required to respond by electronic production to counsel for the Foreign Representatives by January 26, 2023,” said the filing. “He did not.”


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