TechFlow news — Arthur, founder of DeFiance Capital, tweeted about positive developments in the ongoing dispute with Three Arrows Capital over asset ownership.
The liquidators of Three Arrows claim that DeFiance's assets should be returned to satisfy creditors, while DeFiance maintains these assets belong to itself.
Arthur stated that all key witnesses and documents are located in Singapore, and therefore the dispute should be adjudicated by Singapore courts to ensure full access to relevant evidence. The Singapore High Court has acknowledged that Singapore is a more appropriate jurisdiction for this matter and recognized that the case is not as baseless as the liquidators have claimed.
DeFiance has attempted to cooperate with the liquidators to avoid unnecessary time and cost, hoping this will encourage the liquidators to focus on substantive issues.
DeFiance will continue to defend investors' rights and industry principles, and calls on Three Arrows creditors to urge the liquidators to adopt more efficient approaches.
