Guide
Primeo v HSBC: first instance battle throws up a number of novel legal issues
23 August 2017
In a highly-anticipated judgment handed down earlier today, Mr Justice Jones QC held that Bank of Bermuda (Cayman) Limited (BoB Cayman) and HSBC Securities Services (Luxembourg) SA (HSSL) (together, the HSBC Defendants) breached various ongoing duties in their dual capacities as administrator and custodian to Primeo Fund (in Official Liquidation) (Primeo) prior to the arrest of Bernard Madoff and the discovery of the largest known Ponzi scheme in history in December 2008.
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Mourant is a law firm-led, professional services business with over 60 years' experience in the financial services sector. We advise on the laws of the British Virgin Islands, the Cayman Islands, Guernsey, Jersey and Luxembourg and provide specialist entity management, governance, regulatory and consulting services.
