Legal Considerations For Cayman Directors

Guidance for Cayman fund directors on US legal developments

DOUGLAS R. HIRSCH, SADIS & GOLDBERG LLP

Cayman directors’ legal responsibilities have been the focus of much discussion since the Cayman Islands Court of Appeals, in Weavering1, vacated a $111 million dollar judgement against two directors of a failed hedge fund. Assuming Weavering is not reversed on further appeal, the decision provides Cayman directors with useful guidance as to when they will be held personally liable for a violation of a duty of care because their conduct was “willful”

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