HSBC Holdings Plc is facing lawsuits in Ireland by investors faulting the lender for how it performed as custodian for money lost in Bernard Madoff’s $65 billion Ponzi scheme.

A Dublin court will rule today on whether investors must wait to pursue claims against HSBC until suits by mutual funds that hired the bank as a custodian are resolved. Two Irish funds suspended redemptions because of exposure to Madoff.

Revealing the true face of HSBC, the bank has warned the Irish courts of a “true disaster” if up to 60 lawsuits arising from the bankruptcy of US$50bn (€34bn) dollar fraudster Bernard Madoff are allowed to proceed at the same time.

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