Wanted to do a thread on 3AC and the implications of such a massive blow-up but I realized there aren't enough details about their debt positions beyond unsubstantiated rumors for such a thread to be useful. Would kill to get into those books and see what they have been up to.
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Replying to @wassielawyer
Would love to hear your thoughts on the implications of taking funds from other traders' accounts without permission, getting loans from yield firms and not being able to repay them, and how the rumours of them moving to Dubai might affect repayment
1 reply 3 retweets 17 likes -
Replying to @FatManTerra
First one requires speculation on nature of the relationship - if its a custody relationship (and it sounds like it is); that misappropriation is a breach of fiduciary duties. Pretty serious stuff. Defaulting on loans is standard shit, those persons become unsecured creditors.
1 reply 0 retweets 4 likes -
Replying to @wassielawyer @FatManTerra
There are processes in place to enforce foreign judgments in Dubai. Not sure if their entity has moved to Dubai though (would need to do some DD). Too tired for that now - may look into it over the weekend.
1 reply 0 retweets 5 likes
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