FTX lawyer claims that Three Arrows Capital's $1.5 billion claim is' unreasonable 'and should be rejected

According to The Block, FTX bankruptcy management lawyers have recently raised objections to the $1.53 billion claim filed by Three Arrows Capital (3AC), requesting the court to fully dismiss it. The lawyer stated that 3AC's losses were caused by market fluctuations and its own divestment, and were not related to FTX. In March of this year, the bankruptcy court approved 3AC to increase its claim amount from $120 million to $1.53 billion. In November 2024, 3AC claimed that FTX had sold assets worth $1.5 billion two weeks before its liquidation, citing the discovery of new evidence. But FTX lawyers refute that the claim is based on unreasonable premises, inaccurate data, and disregard for facts. FTX pointed out that after the Terra crash in June 2022, the balance of 3AC accounts was below $240 million, but they did not replenish the margin and instead withdrew $18 million in ETH. FTX subsequently liquidated $820 million in assets to avoid a loss of $18 million in the event of account bankruptcy. 3AC needs to submit a response before July 11th, and the hearing is scheduled for August 12th.