Investors Expand HSBC Claims In Tax Scheme Fight
Law360, London (June 21, 2019, 7:48 PM BST) -- A group of fund managers, celebrities and bankers suing a media investment specialist over a failed tax relief scheme have broadened their London lawsuit to accuse HSBC's private banking arm of lending money to fuel the film investments, despite knowing they wouldn't work.
The group, which includes Broadway composer Andrew Lloyd Webber, investment managers and private equity researchers, accused HSBC Private Bank in London's High Court of loaning Ingenious Media funds with strict limitations on how it could be spent.
Their lawsuit is just one prong in a handful of separate, but related lawsuits involving hundreds of well-known sport and entertainment...
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