Industry Analysis

Culross forges path for Cayman clarification

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Paperwork glitch caused extended legal headache

By Niki Natarajan

Nigel Blanshard
This is a cautionary tale for hedge fund investors large and small: make sure the language of the Articles of Association and supporting offering documents tally. Culross Global Management has learned the hard way that no matter how good the due diligence on a manager is, how they play when the chips are down can show a completely different face.

The story of Culross Global SPC versus Strategic Turnaround Master Partnership Limited (STMP) started as one investor trying to redeem from a fund, and concluded by creating case law for