🌐A British Virgin Islands court has frozen up to $1.1 billion in assets belonging to Su Zhu and Kyle Davies – founders of defunct crypto hedge fund Three Arrows Capital – as well as Davies' wife.

Teneo's corporate liquidators today said in a statement shared with The Block that a BVI court made an order on December 18 to prevent the two founders and Davies' wife, Kelly Chen, from handling their assets worldwide.

The BVI court order was issued after Zhu was arrested at Singapore's Changi airport in September while trying to travel abroad. Zhu faced a hearing in a Singapore court last week, responding to 3AC Teneo liquidators seeking to recover $3.5 billion for creditors.

Three Arrows filed for bankruptcy in July 2022 after the crypto market was thrown into chaos due to the collapse of the Terra ecosystem. The company owed creditors at least $3.5 billion, according to documents filed at the time.

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