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Cayman Court of Appeal Reverses US$111 million Judgment Against Weavering Directors

February 2015 Nigel K. Meeson QC

In an unanticipated development, the Cayman Islands Court of Appeal handed down judgment on 12 February 2015 and has reversed the decision of Jones J who had held that the Directors of the Weavering Macro Fixed Income Fund (the “Fund”) were liable for wilful neglect or default, and has set aside the US$111 million judgment which had been obtained by the liquidators of the Fund against them.

 

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Cayman Court of Appeal Reverses US$111 million Judgment Against Weavering Directors

 



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