The High Court of Singapore turned down plea from the now-defunct crypto hedge fund Three Arrows Capital (3AC) to dismiss DeFiance Capital’s lawsuit filed against the fund. In a recent hearing, Judge Chua Lee Ming gave greenlight to Defiance Capital in its $140 million dispute with 3AC. Further, the court ordered 3AC to pay SG$15,000 and legal disbursements to DeFiance Capital. For the past year, DeFiance Capital has been locked in a dispute with the beleaguered 3AC, that filed for Chapter 11 bankruptcy on June 30, 2022. The court declared that though Cheong’s assets were placed on 3AC platform, he had an independent control over it.
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