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.
HSBC Securities Services (Luxembourg) SA said the Judicial Committee of the Privy Council, which sits in London, should overturn a decision by the Court of Appeal of the Cayman Islands directing that a trial take place to quantify damages based on new evidence.
Richard Gillis QC of One Essex Court, representing HSBC, said that allowing Primeo Fund to advance new…
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!