HSBC, Huawei Reach Agreement Over Document Redactions In Fraud Case

HSBC Holdings and Huawei Technologies' CFO Meng Wanzhou reached "an accord" in a Hong Kong courtroom Monday over bank documents her legal team is fighting to have included in her extradition trial from Canada to the U.S.

Hong Kong High Court Justice Linda Chan Ching-fan agreed to an agreement between the bank and Meng's legal team that will see some documents, with portions redacted, made available for her defense in Canadian courts.

"An agreement has been reached with HSBC in relation to the Hong Kong legal proceedings for document production and an order has been approved by the court," Huawei said in a statement.

Few details are available and the settlement will likely not be made public.

The case landed in Hong Kong courts after a British court last month ruled in favor of HSBC and blocked the release of internal bank documents in connection with Meng's fraud charges.

Meng, the daughter of Huawei founder Ren Zhengfei, has been under home arrest in Vancouver since 2018 in connection with American fraud charges over alleged business dealings with Iran.

The Huawei executive maintains her innocence in the matter. Her lawyers allege that HSBC employees were aware of Huawei's ties to a company with operations in Iran, a fact they hope to prove armed now with the necessary internal files.

HSBC has acquiesced to the demands and will "resolve the legal proceedings in Hong Kong regarding the request for documents," a bank spokesperson said Monday.