Primeo v HSBC – Landmark Judgment Handed Down in Grand Court

In a landmark judgment in the Cayman Islands Grand Court in August, Justice Jones QC dismissed a claim for approximately US$2 billion in damages for negligence made by Primeo Fund (“Primeo”) against its administrator and custodian. Even though the defendants were determined to be liable for their acts and omissions, the Judge held that Primeo failed to establish the causal link between such acts or omissions and the loss that was allegedly suffered.

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