HSBC Holdings Plc accused of aiding Madoff's fraud Dec. 6 2010

"Dec. 6, 2010

HSBC Holdings Plc, Europe’s biggest lender, was sued for $9 billion over claims it aided Bernard Madoff’s fraud through a network of feeder funds in Europe, the Caribbean and Central America.  Irving H. Picard, trustee for the liquidation of Bernard L. Madoff Investment Securities LLC, sued HSBC and a dozen feeder funds in U.S. Bankruptcy Court in Manhattan, Picard said in a statement....The suit alleges the bank was aware of concerns that Madoff’s investment business was fraudulent and didn’t take steps to protect investors, according to the statement. .... HSBC said in a statement that Picard’s allegations are “unfounded” and that it will defend itself against them in court."  http://www.bloomberg.com/news/2010-12-06/hsbc-holdings-sued-by-madoff-trustee-for-9-billion-for-alleged-misconduct.html

What do Asarco, HSBC and Petrobras have in common

"January 6, 2011

Six deals on which Cleary Gottlieb advised during 2010 were named as “Deals of the Year” by International Financing Review.

The award-winning deals are:

Latin America Equity Issue of the Year: Petrobras’s $70 billion follow-on offering. (Cleary Gottlieb represented Petrobras. This is expected to be largest equity offering ever.) ....Financial Bond—Subordinated Debt: HSBC’s $3.8 billion $25 par capital securities. (Cleary Gottlieb represented HSBC.) Latin America Loan of the Year: Americas Mining Corporation’s $1.5 billion loan. (Cleary Gottlieb was counsel to a bank syndicate. The loan was used to fund Americas Mining plan of reorganization for its U.S. copper unit, ASARCO LLC.)"
http://www.cgsh.com/cleary_gottlieb_counsel_in_six_ifr_deals_of_the_year/