panamaoffshorelegal

from elsewhere::

"He posted numerous messages on several yahoo groups catering to foreign expats living in (or planning to move to) Panama warning people not to bank with HSBC because of poor service and excessive fees. Last year, the bank sued him civilly for defamation based solely on the yahoo
group postings"

That's exactly what I would do if somebody slandered my business.

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Offshore Bank Accounts | Offshore Company Formation

soltero

That's your choice, of course. I hope it serves you well. But your post assumes that what Mr. Gordon did constitutes slander; that is yet to be determined by the courts. In addition, you left out the part that HSBC not only sued him for $5 million, they also froze the assets of a Panama Foundation that was not legally connected to Mr. Gordon. That's the part that has a number of ex-pats biting their fingernails, because they've been told for years that those trusts were protected and unassailable. HSBC just proved them wrong.

panamaoffshorelegal

I'll grant that the Foundation assets being frozen is a disturbing event and that I hope his currently open appeal get's heard in the higher courts and that he wins... otherwise Panama and their courts are sending the wrong message. I guess we'll have to wait for the result.

My experiences with HSBC Panama have been nothing but positive.

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Offshore Bank Accounts | Offshore Company Formation

MRWOOHOO

My concern with HSBC is the amount of the sub-prime crisis they are involved with? Do a Google search on "HSBC subprime problems", some interesting reading. I hope I don't get sued?

panamaoffshorelegal

HSBC's argument was that he was representing the Foundation when he made his negative comments and as such the Foundation is included in the lawsuit.

"... unless the plaintiff can show that the foundation itself (through its governing body) committed the tortuous act or that the person being sued engaged in fraudulent transfers of assets to the foundation...."

Whereas Mr. Gordon has a different viewpoint:

"Mr. Gordon's lawyers argue that he is only authorized to open bank accounts for the foundation, that anything he might have said as a private individual on the Internet was separate from and had nothing to do with the foundation, and that private interest foundations cannot be sequestered according to Panamanian law" .. from Panama-guide


We'll see what the higher courts think, nothing has been proven up to this point either way.

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Offshore Bank Accounts | Offshore Company Formation

panamaoffshorelegal

HA HA!

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Offshore Bank Accounts | Offshore Company Formation