Legal Question in Business Law in Lebanon

Dear Sir,

I live in Lebanon. i have an account at HSBC bank Lebanon. In august 2006 i had a meeting with a financial Planning officer who adviced to invest in a fund which is based on real estate. She confirmed verbally that the investment should be between 5 and 7 years and the value normally do not go down for such investments. They have sent a letter after one week to confirm and document the meeting where i discovered (and after buying the funds) that this is for Muslims and based on the Sharia while i am christian. I was not allowed to sell it in the first one and half year otherwise i would be penalyzed. Also at the end of 2008 and due to the international financial situation the fund redemption was freezed. The initial investment was 50,000 USD, now i am still not allowed to sell it and the value went down to 7,000 USD. Since this is the 7th year can i oblige HSBC to allow me sell the fund. And since i was not told that this is for muslims based on the Sharia and because it was indirectly implied in the meeting that the base value will not go down, can i claim the base value of 50,000 USD.

thx


Asked on 2/18/13, 12:41 pm

2 Answers from Attorneys

Dear Sir/ Madam,

Our law firm will be happy to assist you.

We kindly ask if you can send us an email at [email protected] or call us on 01 200 878 or 01 /232 506. This is a serious case and it needs more details to be able to provide you with the best legal consultation.

You can come to our office for a free consultation

Assuring you our best attention and high quality services, we remain with kind regards.

Faithfully yours,

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Answered on 2/19/13, 4:03 am

Dear Sir/Madam,

Please note that the telephone number is 01/ 323 506 and not 01/ 232 506. Sorry for any inconvenience.

Assuring you our best attention and high quality services, we remain with kind regards.

Faithfully yours,

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Answered on 2/19/13, 4:07 am


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