Three Arrows Capital, a crypto asset (virtual currency) hedge fund, filed for the application of Article 15 of the US Bankruptcy Law on the 1st.
Three Arrows has been in a difficult situation during the last few months when the cryptocurrency plunged. Reuters reported on the 29th of last month that the company has entered liquidation.
According to court documents, the application was filed with the Bankruptcy Court in the southern district of New York. Under Article 15 of the Bankruptcy Law, foreign companies can protect their assets in the United States from creditors.
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