The Curious Case of Kyle Davies
In a twist that feels straight out of a legal thriller, Kyle Davies, the co-founder of the beleaguered Three Arrows Capital (3AC), has apparently chosen to play a game of legal hide-and-seek. The U.S. Bankruptcy Court in the Southern District of New York dropped a subpoena bomb on him via Twitter, but alas, silence has been his response—crickets, if you will.
Legal Subpoena Takes on a New Form
On February 7, legal eagles from the firm Latham & Watkins, representing 3AC’s liquidators, filed documents stating Davies has “chosen to ignore his duties to Three Arrows.” This isn’t just a casual shrug; ignoring a subpoena is a serious matter, my friends!
- **What’s the subpoena about?** The court expects Davies to cough up documents that include his precious account access info like seed phrases and private keys.
- **Deadline Alert:** He was originally given until January 26 to comply. Spoiler: he didn’t.
Twitter: The New Courtroom?
In an unprecedented move, courts in Singapore and the U.S. have given the thumbs up to using social media as a means of serving subpoenas. Why not use the platform where someone’s most vital life decisions are discussed, like what they had for breakfast? It seems fitting. But for Davies, who has been conspicuously tweeting and retweeting, it raises the question: how could he not notice this legal iceberg heading right for him?
Davies’ Location: Where in the World is Kyle Davies?
Reports suggest Davies may be hanging out in Indonesia, yet he’s actively promoting a new crypto venture called GTX to rake in millions. Talk about multitasking! Considering that his social media activity has been more robust than your average cat video account, it’s hard to imagine he missed the digital subpoena.
“Shamelessly, while ducking his obligations to his failed company…” – Latham & Watkins filing
Judge Glenn Steps In
Enter Judge Martin Glenn, who is not playing around. He’s granted a motion compelling Davies to fulfill his duties—or else! Davies has until March 16 to make things right, and let’s not forget he’s also been ordered by a British Virgin Islands court to appear in a virtual hearing on March 14. Basically, the man has very little wiggle room left.
3AC: A Brief History of Trouble
If you’re not up to speed, 3AC declared bankruptcy back in July 2022, at which point its assets were worth over $10 billion. Since then, Davies and his co-founder Su Zhu have gone suspiciously MIA. While their hedge fund craters, they seem to find time to plot their next business venture. A classic tale of bad timing, perhaps.
Conclusion: We’re All Watching
So, as the clock ticks down to Davies’ impending deadline, the financial world—or at least the Twitterverse—watches closely. Will he step up and provide the requested documents, or will he continue to find clever ways to dodge accountability? The only thing certain is that this isn’t the last we’ll hear about Three Arrows Capital, Davies, and the amusingly absurd legal systems adapting to social media.
