Mourant Ozannes’ Robert Duggan (pictured) and Nicholas Fox investigate a recent ruling by the Cayman Islands grand court that specifically highlights and clarifies the scope of duties expected of directors of open-ended funds
In August, the Grand Court of the Cayman Islands handed down its judgment in the case of Weavering Macro Fixed Income Fund (in liquidation) v Stefan Peterson and Hans Ekstrom, and it has triggered a frisson of excitement in the industry for the extent to which the court has sought to establish how directors of Cayman Islands open-ended funds should approach the discharge of their fiduciary and other duties to the funds of which they are directors.
