TechFlow news — Judge Martin Glenn ruled Friday that he does not have the authority to serve a subpoena on Three Arrows Capital (3AC) co-founder Kyle Davies, as Davies was no longer a U.S. citizen when the bankruptcy court in New York issued the subpoena, thereby exempting him from substantial penalties.
The liquidators of Three Arrows Capital had previously sought a ruling that Davies be held in contempt of court and fined $10,000 per day until he responded to the subpoena or produced documents. The liquidators attempted to serve the subpoena on Davies via Twitter, stating they were uncertain of his current residence but noting that he frequently posts on the platform. They also sought to recover up to $1.3 billion from him and Zhu Su.
Earlier, on August 2, Kyle Davies stated that he had renounced his U.S. citizenship and therefore was not required to respond to U.S. courts.
