Newport first mooted the opportunity for redress in the case of Eclipse in 2016. It was one of the first tax deferral cases to be reviewed from a legal perspective. Having sought initial legal opinions and conducted an in-depth review, Newport started the process of building the litigation case and to seek external litigation funding in December 2016. This initial process was completed in July 2017 and the Newport Eclipse Redress Group was born.
Since then we have built the group to nigh on 400 claimants, worked with several eminent QC’s and with Edwin Coe to build what is seen as a strong case against HSBC, the originators of the scheme in 2005. Proceedings have now been issued and there is a short window for any last investors to join.
Newport have come a long way since 2016. We are running several other group litigation strategies, have access to our own litigation funding and are keen to work with other professional firms to create and run both group and individual claim strategies.
We work with institutions, family offices and individual investors to create bespoke and non correlated investment propositions, creating a high yield, capital growth or a combination of both.
https://www.ftadviser.com/investments/2020/06/22/hsbc-faces-1-3bn-action-over-film-scheme-eclipse/