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Hands off

In the spirit of transparency, it merits noting that the author of this article is an asset finance attorney whose knowledge and understanding of funds work is questionable. Ms. Todd's wholesale application of the Weavering decision to all offshore independent directors is unavailing. The Weavering decision was a fact specific decision whose application simply cannot be applied to all independent offshore directors. The references to the Bear Stearns matter are factually inaccurate and equally misguided. I do, however, agree with Ms. Todd that the fees for directorships should increase. In conjunction with increased fees, investors in hedge funds should demand that only directors with meaningful experience and relevance, 10 plus years of offshore directorship experience, should be appointed.

9-Nov-2011

9:38 pm