In December 2013, Defender sued HSBC Continental Europe (formerly HSBC France; HSBC Institutional Trust Services Incorporated), an Irish subsidiary of
HSBC Bank with registered offices in
Dublin, in an Irish court for $539 million. In December 2018, the
High Court of Ireland ruled that Defender's claim against HSBC was reduced by 100% due to Defender's earlier settlement with BLMIS. On April 14, 2021, the day Madoff died, the case settled immediately before proceedings were due to begin in court before Mr Justice
Mark Sanfey, and was scheduled to last 24 weeks. On April 16, 2015, the
United States Bankruptcy Court for the Southern District of New York approved an agreement between Picard on the one hand, and Defender and related entities on the other hand. The BLMIS Customer Fund benefited by $93 million. Defender received a $522.8 million claim in the BLMIS liquidation, because Defender had deposited more with BLMIS than Defender withdrew. ==See also==