Disputed Lender Acquirer Seeks Access To HSBC Funds
By Bonnie Eslinger (September 8, 2021, 6:19 PM BST) -- An investment vehicle in the Marshall Islands has asked England's courts to declare that it owns the money held in HSBC bank accounts it allegedly purchased as part of a £153 million ($211 million) deal for a mortgage lender.
The High Court lawsuit filed by Saret Holdings Corp. claims that in May five new "de facto" directors were confirmed for Clavis Securities PLC, who formed a majority of the board of directors. Those directors approved the sale to Saret "of all the assets, rights, titles, interests, benefits and undertakings" of Clavis, a mortgage lender, for £153 million, according to the Aug. 26...
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