The Eclipse Litigation: Upham & Ors -v- HSBC UK Bank PLC (Claim No: CL-2020-000347) – Ongoing
The above captioned proceedings concern c.400 individuals who invested in, and became members of, 31 limited liability partnerships named “Eclipse Film Partners No [x] LLP” where [x] stands for a number between 1 and 40 (together the Eclipse Partnerships). In the proceedings, the Claimants for whom this Firm act allege that the Defendant (HSBC) was instrumental in the development, marketing and implementation of the Eclipse Partnerships which were sold to Claimants as an opportunity to invest in transactions with Disney in relation to certain film rights (the Eclipse Scheme). The proceedings seek to recover substantial losses suffered by the Claimants as a result of the investments in the Eclipse Partnerships.
In a nutshell, the Claimants’ case is that HSBC was centrally involved at all relevant stages in the Eclipse Scheme alongside another company called Future Capital Partners Limited (then called Future Films Limited (Future)). Future is now in liquidation.
The Claimants sue HSBC in deceit, conspiracy, joint tortfeasance, dishonest assistance and for breach of obligations under the Financial Services and Markets Act 2000.