Judgment
Weavering Macro Fixed Income Fund Ltd (In Liquidation) v Stefan Peterson and Hans Ekström - Judgment
[2011] CIGC (FSD) 113
· FSD 0113/2010 (AJJ) · 2011-08-26
Directors’ duties of supervision, independent judgment, and care/skill in Cayman investment funds; analysis of sham management agreements; failure to review NAVs and management accounts; rubber‑stamping board minutes; failure to enquire into counterparty risk and IRS valuations; wilful neglect/default under Article 182; causation and measure of loss; damages of US$111m awarded against each defendant
Full metadata
| Neutral Citation | [2011] CIGC (FSD) 113 |
|---|---|
| Cause Number | FSD 0113/2010 (AJJ) |
| Court | CIGC (FSD) |
| Judge | Jones J |
| Parties | Weavering Macro Fixed Income Fund Ltd (In Liquidation) v Stefan Peterson and Hans Ekström - Judgment |
| Judgment Date | 2011-08-26 |
| Subject | Directors’ duties of supervision, independent judgment, and care/skill in Cayman investment funds; analysis of sham management agreements; failure to review NAVs and management accounts; rubber‑stamping board minutes; failure to enquire into counterparty risk and IRS valuations; wilful neglect/default under Article 182; causation and measure of loss; damages of US$111m awarded against each defendant |
| Filename (current) | 11-08-26-Weavering-Macro-fixed-Income-Ltd-In-Official-Liquidation-v-Stefan-Peterson-and-Hans-Eckstrom.pdf |
Legislation cited
| Statute | Sections cited | Mentions |
|---|---|---|
| Mutual Funds Act | 4(6) | 5 |
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