P2, you may want to pick up the recent Offshore Finance magazine. It has an article from two lawyers that touches on this topic. www.ofcpublications.com
I am paranoid too. Great points from all of you. One point that I have been adament about from the start is that I want a big 4 firm to issue me an opinion letter on whatever documents I have made up.
p2 said: I want a big 4 firm to issue me an opinion letter on whatever documents I have made up. The subtle ambiguities of the English language strike once again