Weavering Macro Fixed Income Fund v Ernst & Young Chartered Accnts, Ernst & Young Ltd and Ernst & Young (A Firm) [2013] CIFsd 36 (02 October 2013)
The court held that the plaintiff failed to establish that Ernst & Young breached their duty of care or that any breach caused the losses claimed.
Source-derived case information.
- Citation
- [2013] CIFsd 36
- Parties
- Plaintiff: Weavering Macro Fixed Income Fund; Defendant: Ernst & Young Chartered Accountants; Defendant: Ernst & Young Ltd; Defendant: Ernst & Young (A Firm)
- Jurisdiction
- Cayman Islands
- Judgment Date
- 02 October 2013
- Procedural Posture
- Civil / Judgment
- Outcome
- claim dismissed
- Legal Topics
- Auditor Liability, Fund Mismanagement, Duty of Care
Source-derived case record
Summary, issues, holding and outcome
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Parties
Weavering Macro Fixed Income Fund
Plaintiff
Ernst & Young Chartered Accountants
Defendant
Ernst & Young Ltd
Defendant
Ernst & Young (A Firm)
Defendant
Procedural Posture
Civil / Judgment
Legal Issues
- 1 Whether Ernst & Young breached their duty of care as auditors to Weavering Macro Fixed Income Fund
- 2 Whether the defendants are liable for losses suffered by the fund due to alleged audit failures
Ratio Decidendi
The court held that the plaintiff failed to establish that Ernst & Young breached their duty of care or that any breach caused the losses claimed.
Court Disposition
claim dismissed
Orders
- The claim against all defendants is dismissed.
Full Case Text
Judgment text and source record
1 paragraphs
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