3AC Company Receives Court Approval to Increase Bankruptcy Claim Amount: Details
The liquidators of "Three Arrows Capital," abbreviated as "3AC," have obtained court approval to increase their bankruptcy claim from $120 million to $1.5 billion, following new evidence revealing that the company owned assets worth this amount on the FTX cryptocurrency exchange prior to its bankruptcy.
Despite objections from FTX's debtors citing delays and weak notification, the court found that the original claim was sufficient, noting that FTX withheld financial information that contributed to the delays.
The liquidators are also seeking a claim of $1.3 billion against "Terraform Labs," accusing it of manipulating the prices of UST and LUNA, which resulted in massive losses for "3AC" before the collapse of the Terra project in 2022
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