High Court ruling casts on doubt on future of $141m claim against Irish arm of HSBC bank

A High Court ruling has cast doubt on whether a claim for $141m against the Irish arm of HSBC bank related to the Ponzi scheme run by jailed US fraudster Bernie Madoff can proceed.

Defender Ltd, a British Virgin Islands (BVI) registered investment fund, has sued HSBC Institutional Trust Services Ireland Ltd, with registered officers at Grand Canal Square, Dublin.