Three Arrows Capital Liquidators to Sell a Yacht for $30M to Recover Funds
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According to a document from court, the liquidators of bankrupt firm 3AC have recovered $35.6 million belonging to the cryptocurrency hedge fund in banks in Singapore. In addition, they have filed a petition for the sale of a $30 million superyacht.
The shipbuilder has terminated the contract for the purchase of Much Wow due to non-payment of the final amounts on it from the fund-linked Much Wow Limited. The yacht will be put up for sale and the funds received will be partially directed to the company’s current creditors.
The group has also recovered $2.75 million in forced redemption of investments, as well as an undisclosed amount of 60 different tokens and NFTs.
The 3AC co-founders are still not cooperating with lenders.
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