HSBC Holdings to Book $1.1B Provision Related to Madoff Case

Core Viewpoint - The London-based bank is currently involved in a legal dispute where a unit is defending a claim from Herald Fund SPC regarding the restitution of securities and cash related to the Bernard L. Madoff Investment Securities LLC case [1] Group 1 - The bank's unit is actively defending against a lawsuit brought by Herald Fund SPC [1] - The lawsuit pertains to restitution claims involving securities and cash [1] - The case is linked to the infamous Bernard L. Madoff Investment Securities LLC [1]