HSBC, Huawei Reach Agreement in Hong Kong Case Seeking Documents
(Bloomberg) -- HSBC Holdings Plc reached an accord with Huawei Technologies Co. Chief Financial Officer Meng Wanzhou who was seeking documents from the lender in her fight against being extradited from Canada to the U.S.
The agreement between Meng, Huawei and HSBC was revealed at a Hong Kong court hearing on Monday and involves “document production,” according to a statement from the Chinese firm. HSBC said in a separate statement that it had agreed to “resolve the legal proceedings in Hong Kong regarding their request for documents.”
Meng, the eldest daughter of Huawei’s billionaire founder, was arrested in December 2018 at Vancouver’s airport. U.S. authorities seek the handover of the executive on fraud charges, accusing her of misleading banks into handling transactions for Huawei that violated American trade sanctions.
Meng is seeking records from the bank and has said documents would show that lenders were aware of the connections to Iran-linked Skycom Tech Co.
The scope of Monday’s agreement was unclear.
The documents requested in Hong Kong include those in connection with the evaluation of compliance, sanctions, credit or reputational risk posed by Huawei Technologies, Skycom or Canicula Holdings between late 2012 and April 2015, according to an earlier court filing.
The Canadian hearings on Meng’s extradition request are expected to continue until May. Appeals could lengthen the process significantly. Some Canadian extradition cases have lasted as long as a decade.
A U.K. court earlier this year denied a similar request for documents by Meng, ruling that it didn’t have jurisdiction to make an order.
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