HSBC Fights Cayman Fund's Expanding $2B Madoff Claim

By Richard Crump (October 14, 2021, 4:25 PM BST) -- An HSBC subsidiary urged the highest court for overseas British territories on Thursday to block a Cayman Islands investment fund from pressing new arguments in its long-running lawsuit seeking $2 billion in damages following losses from Bernie Madoff's massive Ponzi scheme.

An HSBC subsidiary has urged the highest court for overseas British territories, in London, to overturn a ruling by the Court of Appeal of the Cayman Islands directing that a trial should take place to quantify damages following losses from Bernie Madoff's massive Ponzi scheme. (iStock) HSBC Securities Services (Luxembourg) SA said the Judicial Committee of the Privy Council, which sits...

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