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Be vigilant

Savvy investors do detailed due diligence as early as possible, and it's simple but effective in the BVI, says Valerie Georges-Thomas

9 October 2013

There has been greater emphasis placed on effective due diligence on investments and acquisition targets in the aftermath of 2008's financial crisis. Important lessons should have been learnt from all the high-profile hedge fund frauds and failures occurring at the height of the fallout. Many investors could have avoided substantial losses if relatively straightforward due diligence had been carried out prior to investing.

Detailed due diligence must take place before an investment and on an ongoing basis. It is a relatively simple and cost-effective exercise to undertake early in a transaction and it can highlight potential issues that could prove costly if not discovered until later.

While it is common to engage offshore counsel towards the end of a transaction to provide the customary legal opinion, involving them at an early stage often makes for a more cost effective and smoother process.

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