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HSBC to recognize $1.1 billion provision in third quarter after court ruling in Madoff case
Herald Fund SPC sued HSBC's Luxembourg unit in 2009, claiming restitution of securities and cash it said were lost in the fraud.
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cnbc.com
HSBC to recognize $1.1 billion provision in third quarter after court ruling in Madoff case
Herald Fund SPC sued HSBC's Luxembourg unit in 2009, claiming restitution of securities and cash it said were lost in the fraud.
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ft.com
HSBC expects $1.1bn hit from Madoff litigation
UK bank sets aside provision for lawsuit stemming from history’s biggest Ponzi scheme
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theguardian.com
HSBC warns it could take years to settle Madoff case as bank takes $1.1bn hit
Lawsuit over Ponzi scheme drags on London-headquartered lender, whose profits plunge by 14%