Peters and Peters represented Magnus Peterson, the former CEO of Weavering Capital (UK) Ltd (WCUK). WCUK was investment advisor to the Weavering Macro Fixed Income Fund Limited (the Macro Fund), a hedge fund which, at its peak, had funds under management in excess of $600m. Following the high profile collapse of the Macro Fund and the administration of Weavering Capital in March 2009, the SFO commenced an investigation into interest rate swap transactions between the Macro Fund and another fund which it alleged were related party transactions which had the effect of inflating the net asset value of the fund. Peters & Peters acted for Mr Peterson in relation to the initial investigation by the Serious Fraud Office and the proceedings commenced by the Administrator.