Hedge fund managers each receive $ 111 M fine

Cayman Islands Grand Court fines two hedge funds managers 111 million dollars each for their role in the collapse of their companies.

Stefan Peterson and his Ekstr?m by the now defunct London-based hedge fund Weavering Capital, which also had a Cayman Islands office, was found guilty by the Court of "wilful neglect or default in performance of their duties", reported the HFM week.

Losses incurred by the company are superseded by the company, however, the Court had substantial evidence that the couple avoided their professional duties.

Before the company closed 2009 for only 90 million dollars of 223 million dollars in the request for redemption, had Weavering 639 million USD in assets under management by HFM week.

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