The U.S. bankruptcy judge in charge of BlockFi's lawsuit has ordered bankrupt crypto hedge fund Three Arrows Capital (3AC) to enter mediation
Crypto Hedge Fund 3AC To Enter Mediation In Its $284 Million Claim Against The Crypto Lender BlockFi
The U.S. bankruptcy judge in charge of BlockFi's lawsuit has ordered bankrupt crypto hedge fund Three Arrows Capital (3AC) to enter mediation in its $284 million claim against the crypto lender BlockFi.
The U.S. bankruptcy judge in charge of BlockFi's lawsuit has ordered bankrupt crypto hedge fund Three Arrows Capital (3AC) to enter mediation in its $284 million claim against the crypto lender BlockFi.
Chief Judge Michael Kaplan of the United States Bankruptcy Court for the District of New Jersey established a mediation window for the two firms' lawyers to work out a deal starting in January next year.
If an agreement cannot be reached, a two-day hearing is scheduled for February 5 to determine the amount of money that should change hands. The dispute centers around "preferential payments" made by 3AC to BlockFi before the bankruptcy filing.
Preferential payments, also known as preferences, are payments made to creditors prior to the filing of a bankruptcy case that allow the creditor to collect more than they would have received in the bankruptcy case.
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