Three Arrows Co-Founder Avoids Big Fine for Snubbing Subpoena Sent Over Twitter
- Kyle Davies wasn’t a US citizen at time subpoena was issued
- Judge said he lacked jurisdiction to issue subpoena on Twitter
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A co-founder of bankrupt crypto hedge fund Three Arrows Capital dodged having to pay a potentially hefty fine for not responding to a subpoena sent to him over social media by liquidators attempting to recover money for creditors.
Judge Martin Glenn ruled Friday that Kyle Davies wasn’t properly served over social media because he wasn’t a US citizen at the time the New York bankruptcy court issued the subpoena. Davies’ lawyers submitted documentation earlier this month establishing that he renounced his US citizenship at the end of 2020 and is a citizen of Singapore, which doesn’t permit dual citizenship.