HSBC Holdings Plc (HSBA) settled a lawsuit over millions in losses by a fund that invested with Bernard Madoff, ending what would have been a six-week trial in Dublin the day after it started. HSBC settled the dispute with Kalix Fund Ltd., a spokesman said by e-mail today, without disclosing the terms. Kalix sought $35.6 million from the bank, which it said was responsible for safeguarding the money it placed in Thema International Fund Plc (TIFHUQE), which invested with Madoff. More on Bloomberg Businessweek here.
