HSBC, Brazilian Bank Widen $35M Suit Against Transit Cos.

Law360, London (December 7, 2018, 4:05 PM GMT) -- The Swedish Export Credit Corp. has joined HSBC Bank PLC and a Brazilian lender in taking legal action in the U.K. against four transport companies that allegedly owe them $35.2 million after they defaulted on two loans.

Judge Andrew Henshaw approved an application to add the Swedish state-owned company, known as SEK, to the suit as a third claimant alongside HSBC and Banco Bradesco SA. The judge’s order, handed down Dec. 3, granted permission for the companies to amend the existing particulars of the claim document and refile it with the High Court in London.

At the heart of the suit...