The Singapore High Court reportedly granted authorization for a petition to recognize the liquidation order against Three Arrows Capital (3AC) issued by a court in the British Virgin Islands.

Specifically, the final call from the Singapore court, issued in a private fashion, offers the petitioner the legal power to request access to 3AC financial records stored in Singapore, where 3AC is based.

Teneo, the firm in charge of the liquidation work for the 3AC assets, reportedly submitted the filing for its petition with the court on July 9, claiming that the crypto hedge fund may possess associated data in its Singapore headquarters regarding its bank accounts, properties, digital assets and stakes in different establishments. 

Zhu reportedly put in an effort to sell his $35 million “bungalow” in Singapore in June.

3AC cofounder Zhu Su reportedly issued responses to charges accusing the firm to have been uncooperative with the liquidators via a July 12th post on Twitter, stating that the company had provided the liquidators with a spreadsheet with details of the company’s assets.

Zhu and his partner Kyle Davies allegedly disappeared from the surface following the liquidation order sent to the firm. They later came up during an interview with Bloomberg, in which they claimed they were fleeing from death threats.

3AC reportedly received the order to carry out liquidation on June 27 following reportedly failing to meet margin calls. Teneo has gained control of a minimum of $40 million of 3AC assets so far, according to Bloomberg. 

That sum accounts for only a very small fraction of the 3AC’s debt to its creditors, which amounts to at least $2.8 billion USD.

The firm reportedly owes its major creditor, Genesis Asia Pacific, $2.36 billion. Genesis’ parent firm Digital Currency Group later had to assume a portion of the trader’s liability to ensure its continuing operations. Voyager Digital also blamed 3AC’s default on a loan of 15,250 Bitcoin (BTC) and 350 million USD Coin (USDC) for its decision to freeze withdrawals and other activities on July 1.