The former chairwoman of Galeries Lafayette has sued HSBC France over the alleged loss of €7.5m invested in LuxAlpha, one of the main Euopean-based funds invested in Bernard Madoff.

Leone-Noëlle Meyer, grand-daughter of one of the founders of Paris’ famous department store, has sued the bank for non-disclosure and mismanagement of contractual obligations, according to Henri Brandford-Griffith, her lawyer.