A telecom equipment company has launched the opening legal barrage in the asset-backed commercial paper mess, suing HSBC Securities (Canada) Inc. for selling $8.5-million of short-term investments that are now frozen.
Concord, Ont.-based Aastra Technologies Ltd. is seeking $5-million in damages, according to a statement of claim filed with the Ontario Superior Court of Justice. […]
HSBC Holdings Plc’s Canadian unit became the first financial adviser in the country to be sued over investments in asset-backed commercial paper that were frozen following the U.S. subprime mortgage industry collapse.
Aastra Technologies Ltd., which makes telecommunications equipment, filed the suit today in Ontario Superior Court, alleging HSBC and adviser Nicolas Del Sorbo gave […]
Combined third-quarter profits for HSBC USA and HSBC Finance Corp. fell 15.5 percent, as a tight profit margin, lower banking fees, higher operating expenses and higher loan losses offset growth in the company’s bank branch network, commercial lending, retail mortgage and credit card divisions.
The two U.S. units of HSBC Holdings Plc reported total profit before […]
Call somebody about this, anywhere in the world, for FREE
An open letter to HSBC, Knight Vinke and Stephen Green
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.
We use your individual HSBC complaints and merchant complaint reports to perform trend analysis.
We are not associated with HSBC, Household International, or their merchants.
Some items are used by permission granted in the Fair Use guidelines of the 1976 U.S. Copyright Act.
