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The legal proceedings launched by the bank against the Central American country are for an alleged breach of an agreement with the UK to protect investors

People Correspondent

HSBC has started legal proceedings against El Salvador, saying the Central American country breached its investment treaty with the United Kingdom.

In a statement on 18 August, the bank said it “seeks to recover at least $49.3 million in damages that the Bank alleges were wrongly awarded against it by the Supreme Court of El Salvador”.

HSBC sues El Salvador for ‘breach of investment treaty’ with UK

Bérengère Sim

HSBC

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