Weavering Macro Fixed Income Fund v Ernst & Young Ltd [2014] CIFsd 12 (18 March 2014)
The court found that Ernst & Young Ltd did not breach its duty of care in a manner that caused the losses claimed by the plaintiff.
- Citation
- [2014] CIFsd 12
- Parties
- Plaintiff: Weavering Macro Fixed Income Fund; Defendant: Ernst & Young Ltd
- Jurisdiction
- Cayman Islands
- Judgment Date
- 18 March 2014
- Procedural Posture
- Civil / Judgment
- Outcome
- claim dismissed
- Legal Topics
- Auditor Liability, Fund Mismanagement
Case Brief
Summary, issues, holding and outcome
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Parties
Weavering Macro Fixed Income Fund
Plaintiff
Ernst & Young Ltd
Defendant
Procedural Posture
Civil / Judgment
Legal Issues
- 1 Whether Ernst & Young Ltd was negligent in its audit of Weavering Macro Fixed Income Fund
- 2 Whether losses suffered by the Fund were caused by the alleged negligence
Ratio Decidendi
The court found that Ernst & Young Ltd did not breach its duty of care in a manner that caused the losses claimed by the plaintiff.
Court Disposition
claim dismissed
Full Case Text
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