HSBC Holdings Plc has proposed a revised $62.5 million settlement with investors in an Irish fund that lost money in Bernard Madoff’s Ponzi scheme, after a U.S. judge rejected an earlier accord. The British bank said the revised settlement for investors, in Thema International Fund Plc, addresses issues raised by U.S. District Judge Richard Berman in Manhattan, who on September 7 called the original accord “not fair, reasonable or adequate.” Read Reuters report here.
