Three Arrows Partner Kyle Davies Exempted from Hefty Fine for Non-U.S. Citizenship

2023/08/11 19:15

Judge Martin Glenn ruled on Friday that he had no authority to send a subpoena to Kyle Davies, co-founder of Three Arrows Capital, because Davies was no longer a US citizen at the time the subpoena was issued by the New York bankruptcy court. Therefore, Davies is exempt from the huge fines. The liquidator of Three Arrows Capital had previously hoped that the judge would find Davies guilty of contempt of court and impose a fine of $10,000 per day until he responded to the subpoena or handed over documents.

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