HSBC made $250m deal in Irish court

HSBC’s interim results reveal that the company made a $250m (€188m) settlement in the Irish High Court as a result of investments in Bernie Madoff’s Ponzi scheme.

The bank’s interim results reveal that in July, a settlement was reached for $250m plus a contribution of $43m towards costs in respect of a claim by Thema International Fund plc against HSBC Institutional Trust Services (Ireland) Limited in the High Court.

Thema International Fund was represented by William Fry solicitors, who declined to comment on the case.