Sanjian had guaranteed defaulted loans from TPS Capital, of which Zhu Su is a shareholder

TPS Capital received a $20 million loan from Arrakis Capital in late April and defaulted in mid-June, according to court documents, with Sanjian acting as the guarantor of the TPS Capital loan. Zhu Su is understood to own more than 40 per cent of TPS's British Virgin Islands entity. Previously, TPSCapital stated that it is a separate legal entity, that its business is separate and distinct from that of Sanarrow Capital, that it is operated by a separate management team, and that it operates its business without the involvement of Sanarrow Capital or its principals, who are only TPS clients.