HSBC, via its insurance company St Paul International, is suing Network Rail, operator of the UK rail network, for at least £6m (€8.6m) in "damage repair and destruction costs" caused by the fatal rail crash in Hatfield in the UK four years ago.

HSBC has this year established a healthy capital markets relationship with Network Rail. The bank worked alongside Merrill Lynch as the arranger of the rail operator's £10bn funding programme.