Royal Park Says It's Settling RMBS Suit Against HSBC

Law360 (August 30, 2019, 5:53 PM EDT) -- Royal Park Investments SA/NV has reached a tentative deal to settle its lawsuit blaming HSBC Bank USA NA for more than $1 billion in alleged investor losses on three pre-crisis residential mortgage-backed securities trusts that the bank oversaw as trustee, according to a letter filed in New York federal court.

The Aug. 29 letter to U.S. Magistrate Judge Sarah Netburn from counsel for Royal Park said both sides have reached an agreement in principle to settle the case but did not disclose any terms or dollar amounts. Royal Park and HSBC are asking for a stay of all deadlines while the...

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