UBS Suit Against Ex-Banker Seeks Tax Money, Interest

Law360, New York (December 7, 2009, 4:20 PM EST) -- A terminated investment banker owes UBS AG $862,000 plus more than five years' interest for improperly reaping U.S. tax credits as a result of his severance contract, the Switzerland-based global bank says in a newly filed lawsuit.

The complaint, filed Friday in the U.S. District Court for the Southern District of New York, says Ian J. Hardington failed to remit U.S. tax refunds triggered by the bank's payment of his U.K. taxes under the severance agreement.

According to the complaint, Hardington — hired by UBS in...
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