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Duties of independent non-executive directors of an investment fund: the Weavering judgment

  • Harney Westwood & Riegels
  • -
  • Cayman Islands
  • -
  • September 12 2011

The judgment of the Grand Court of the Cayman Islands in Weavering Macro Fixed Income Fund Limited (in Liquidation) v Stefan Peterson and Hans Ekstrom has been seized upon by the financial services industry in the Islands as invaluable guidance, albeit in fact specific circumstances, as to the standard of performance expected of the board of directors of a Cayman Islands domiciled fund