Crypto hedge fund Three Arrows Capital (3AC) is seeking protection from creditors in the United States under Chapter 15 of the U.S. Bankruptcy Code, which allows foreign debtors to shield U.S. assets, according to a court filing on Friday, Reuters reported. Singapore-based 3AC is one of the highest-profile investors hit by the sharp sell-off in crypto markets and is being liquidated, Reuters reported on Wednesday. Representatives for 3AC filed a petition in the U.S. Bankruptcy Court for the Southern District of New York on Friday, according to court documents.

Remittances sent to Mexico, a major boon for Latin America's second-largest economy and especially for low-income families, reached an all-time high of $5.17 billion in May, central bank data showed on Friday, Reuters reported. It was the first time monthly remittances surged past the $5.0 billion mark and compares with $4.72 billion in April and $4.53 billion in May 2021.

Singapore’s top financial regulator reprimanded the cryptocurrency hedge fund Three Arrows Capital, saying that it supplied false information to officials and managed more assets than allowed, the Wall Street Journal reported. The firm, which was recently ordered to liquidate by a court in the British Virgin lslands, previously gave false or misleading information to regulators when it transferred management of its fund in September 2021 to an entity in the offshore tax haven, the Monetary Authority of Singapore said Thursday.

A new federal private member’s bill aims to protect your pension in the bankruptcy process if your employer ends up as the next Nortel or Sears Canada, the Toronto Star reported. It’s the latest in a string of attempts to change Canada’s laws to give underfunded pension plans with insufficient assets to cover their liabilities a “super priority” over large creditors and the payout of executive bonuses in a bankruptcy or insolvency process.

Canada's British Columbia province said on Wednesday it reached a C$150 million ($116.50 million) settlement with OxyContin maker Purdue Pharma Canada over healthcare costs related to the opioid crisis, Reuters reported. Purdue had been named as one of more than 40 defendants - drugmakers and distributors - in a proposed class-action lawsuit brought by British Columbia in 2018 on behalf of all provincial and federal Canadian governments.

Canada’s banking regulator moved to rein in a number of home-loan products that have exploded in popularity during the country’s pandemic housing boom as the market starts to turn, Bloomberg News reported. Consumers who hold mortgages that are combined with a revolving home-equity line of credit and exceed a 65% loan-to-value ratio must use some of their principal payments to pay down their mortgage balance until it’s below that threshold, the Office of the Superintendent of Financial Institutions said in a statement Tuesday.

Hong Kong's financial watchdog is tightening oversight on derivatives markets after the collapse of Archegos Capital Management, a senior official at the city's Securities and Futures Commission (SFC) said on Tuesday, Reuters reported. Archegos, a U.S.-based family office of investor Bill Hwang which had $36 billion in assets, blew up last year when it was caught short on highly leveraged trades and left global banks with $10 billion in losses.

Costa Rica has told the International Monetary Fund (IMF) it is interested in obtaining a nearly $700 million loan to invest in infrastructure from a newly created fund, the Central Bank said, Reuters reported. Costa Rican authorities told the IMF that the country aims to be the first to secure financing from the IMF's Resilience and Sustainability Trust (RST), announced in April, the Central Bank told Reuters on Friday.

Mexico’s central bank accelerated the pace of its interest rate increases Thursday, delivering the country’s biggest ever hike and signaling willingness to keep boosting rates at the same pace if needed, Bloomberg News reported. The board of Banxico, as the bank is known, unanimously voted to raise its key rate by 75 basis points to 7.75%, as expected by all 27 economists in a Bloomberg survey.

Mexican President Andres Manuel Lopez Obrador said on Friday that during a planned visit to Washington next month he would propose to his U.S. counterpart Joe Biden that they craft a joint anti-inflationary plan to tackle surging prices, Reuters reported. Mexico's leftist president did not set out details of what such a plan could entail, but he pointed to three measures his administration had taken to keep down the price of household staples like foodstuffs and fuels.