US court gives Three Arrows nod to increase its FTX claim to $1.53B
3AC liquidators have been trying to claw back funds held by the hedge fund on FTX since it filed a June 2023 claim in the collapsed exchanges bankruptcy case.
A US bankruptcy court has authorized liquidators of defunct crypto hedge fund Three Arrows Capital (3AC) to increase their claim against collapsed crypto exchange FTX from $120 million to $1.53 billion.
Chief Judge John Dorsey rejected FTX’s debtors’ argument that the amended proof of claim (POC) from 3AC liquidators was untimely and an unjust attempt to slow the bankruptcy proceedings.
In a March 13 ruling in the US Bankruptcy Court for the District of Delaware, Dorsey opined that 3AC liquidators had provided sufficient notice of their claim and the possibility of amending it once they had analyzed all the available information. Any delay, he said, was caused by FTX’s failure to share relevant records promptly.
