Touting the process as the “first” of its kind, Davies claimed it would allow himself and Su to donate funds to 3AC creditors, but only if they were “early and supporting” of OPNX.
He claimed there are already a “number of creditors” that have been made whole. “If there are some that don’t want to deal with us, then they don’t have to,” he added. “We very much believe that if we do good and we say to creditors who lost money, they have a way to make more back. If we do bad and they do well, then that's great. And that's good karma, or whatever you want to call it."
When pressed on how he could be working on a new venture while his now-bankrupt hedge fund was still in the midst of a liquidation process, Davies claimed that creditors only stand to “benefit” from the new company.
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