HSBC faces legal action
The Money Marketing article talks about Edwin Coe LLP commencing litigation on behalf of 400 investors against HSBC.
Law firm Edwin Coe has commenced litigation on behalf of 400 investors against HSBC over its role in facilitating the operation of the Disney film financing investment scheme known as Eclipse.
Money Marketing first reported that affected investors including celebrities and football managers were eyeing up a landmark legal challenge 18 months ago.
The legal action will be financed by London-based litigation funder, Therium.
Former Manchester United manager Sir Alex Ferguson, former England managers Sven-Goran Eriksson and Glen Hoddle, and former Sainsbury’s chairman Peter Davis were among around 780 investors who put £2.2bn into the scheme between 2006 and 2008.
To read the full article, please click here.
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