HSBC Escapes £153M Suit Over Account Access

By Lucia Osborne-Crowley (January 14, 2022, 1:17 PM GMT) -- A London court on Friday threw out a lawsuit brought by an investment vehicle in the Marshall Islands against HSBC Bank, saying the claim for ownership of £153 million ($210 million) in account funds has no real chance of succeeding.

Judge Robin Knowles ruled at the High Court that a suit brought by Saret Holdings Corp., which claims that it owns money held in HSBC bank accounts, should be tossed because it has no prospects of succeeding at trial, granting the bank summary judgment.

There is "no compelling reason why the case should await trial for disposal when the prospects are so plain...

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