Offshore: So near, yet so far away
We are now over two years on from the onset of the liquidity crisis, but many hedge funds remain suspended, with investors unable to access their investments through redemptions while fund managers seek to realise residual portfolio assets in difficult markets. Inevitably, some investors have lost patience with the process and have turned to the courts for redress. In two of the world's major funds domiciles, the Cayman Islands and the British Virgin Islands (BVI), two very different views have emerged from the courts providing salient lessons on the way in which hedge funds continue to operate.
Offshore centres are seeing the continual fallout on the funds industry from the market collapse but differing approaches have emerged from the BVI and Cayman Islands. Andrew Thorp and Thomas Williams report
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