75 issues young

This publication launched a few weeks after the seminal Weavering judgement. In August 2011, a court in Cayman ordered Stefan Peterson and Hans Ekstrom, to pay damages of $111 million for being in breach of their duty of supervision of the Weavering Macro Fund. They were found to be guilty of ‘willful neglect or default’ in exercising their supervisory powers as directors. The judgement was a wake-up call for fund directors everywhere – and not just for those that served on the boards of Cayman funds.

For more on this story see the November edition of The NED.