HSBC amends settlement with investors in Irish fund

HSBC Holdings Plc has amended its settlement with investors in an Irish fund who lost their money in Bernard Madoff’s Ponzi scheme after its original offer was rejected by a US judge in September.

The amended settlement, filed in the US District Court in Manhattan yesterday, still offers shareholders in Thema International Fund Plc as much as $62.5 million (€47m), while addressing the court’s earlier concerns, the London-based lender said yesterday in an e-mailed statement.

“The amended agreement addresses certain issues identified by the New York federal court overseeing the case,” HSBC said in the statement.