Disgraced Weavering directors face $450 million in damages

Thu May 31, 2012

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The liquidators of Weavering Capital, the fraudulent macro hedge fund led by Magnus Peterson that collapsed in 2009, have been awarded huge damages in a civil judgement against Peterson and three other former directors and employees.

Damages of $450 million were awarded against Peterson, his wife Amanda, fellow Weavering director Chas Dabhia and former portfolio manager Edward Platt. The joint liquidators, Geoffrey Bouchier and Paul Clark of Duff & Phelps (formerly MCR), were represented in the proceedings by law firm Jones Day.

Based out of London, Weavering managed the Cayman-domiciled...

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