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HSBC Says Fraud Claims 'Hopeless' In Movie Tax-Relief Row

Law360, London (May 7, 2019, 12:22 PM BST) -- The private banking arm of HSBC has rejected claims that it misled investors about a scheme to claim tax relief on film investments, describing the allegations as “unfocused” and “hopeless” in a defense filed at a London court.

HSBC's private banking arm denies claims by investors in blockbusters including "Avatar" and "Life of Pi" that it deceived them over a scheme to claim tax relief on movie investments. (AP) HSBC Private Bank U.K. Ltd has responded after investors — who include celebrities, bankers and sport stars — filed an amended claim at the High Court in April, alleging that the lender deceived them...

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