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.

Updates:

01/11/2017  Edwin Coe leads investors in blockbuster action against Eclipse film investment scheme

25/06/2018 The Sun: Big Penalties: Glenn Hoddle & Sir Alex Ferguson among big name football stars facing £1 billion tax bill

05/03/2019 Mail on Sunday: Celebrities lured into huge tax avoidance scheme

22/06/2020 Mail on Sunday: HSBC faces £1.3bn legal claim for its involvement in film financing scheme set up to avoid tax

24/06/2020 The FT: HSBC faces £1.3bn lawsuit over film scheme

07/09/2021 Edwin Coe, the UK’s first class action firm, welcomes decision of HMRC to abandon its claim for £1.6bn ‘dry tax’ in Eclipse film investment schemes

12/01/2024 The Lawyer: Unveiled: The Top 20 cases of 2024 – The Eclipse litigation

05/02/2024 CityAM: HSBC heads for blockbuster trial today over Disney film tax scheme